US SEC Lawsuit Charges Bitcoin Laundering In Stock Pump and Dump

Blockchain, Investing, News, Regulation | November 1, 2017 By:

The US Securities and Exchange Commission (SEC) is suing a day trader for alleged fraud, claiming he used bitcoin to hide profits from his stock exchange pump and dump scheme.

The SEC filed charges on Monday against Joseph Willner of Philadelphia. He is accused of illegally taking over more than 100 brokerage accounts and using the funds to artificially inflate stock prices.