US state regulators order Ultra Mining to shut down alleging fraud & “misleading statements about returns”

posted 6 months ago
The Texas State Securities Board (TSSB) ordered Ultra Mining to cease and desist, alleging it promised to double investments in a cloud mining scheme. State regulators filed an emergency action against Ultra BTC Mining and Laura Branch on Wednesday, alleging the firm promised to double investors' funds, touted a massive bitcoin price rise, offered affiliate and partner programs and claimed to donate to COVID-19 charity efforts without proof.

According to the information, Ultra Mining allegedly raised $18 million, and Ultra mining allegedly made misleading statements about the returns.
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