Pirateat40 Pleads Guilty To Securities Fraud

Despite entering a plea of not guilty earlier this year, Trendon Shavers AKA pirateat40 has plead guilty to one charge of securities fraud related to the operation of a ponzi scheme, better known as the Bitcoin Savings and Trust. As reported by Reuters (archive), Shavers has agreed not to appeal any sentence at or below 41 months in duration and will face sentencing early next year on February 3rd.

One thought on “Pirateat40 Pleads Guilty To Securities Fraud

  1. Many of those bitcoins were received back when the ponzi was known by its original name (circa Nov, 2011): "First Pirate Savings & Trust".

    You mean it was a ponzi all along? Who could've known????

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