ChargedNorthern Texas
Cryptocurrency CEO Indicted After Defrauding Investors of $4 Million
Nov 28, 2018 · Sourced to the U.S. Department of Justice
The charges described here are allegations. The defendant(s) are presumed innocent unless and until proven guilty in a court of law. This page reflects only what the Department of Justice has publicly announced, and links to the original release.
AriseBank CEO Jared Rice, Sr. was arrested by the FBI on Wednesday, charged with duping hundreds of investors out of more than $4 million in a cryptocurrency scheme
Defendants
- Jared Rice, Sr. — age 30 · Northern District of Texas · indicted
Charges
Securities fraud
Jared Rice, Sr.· indicted
Wire fraud
Jared Rice, Sr.· indicted
Financial actions
- fraud: $4 million — Funds defrauded from hundreds of investors in a cryptocurrency scheme involving AriseBank and AriseCoin
From the announcement
“My office is committed to enforcing the rule of law in the cryptocurrency space,”
“The Northern District of Texas will not tolerate this sort of flagrant deception – online or off.”
Investigating agencies
Federal Bureau of InvestigationU.S. Attorney's Office for the Northern District of TexasSecurities and Exchange Commission
Case details
- Prosecuting office
- Northern District of Texas
- Assets
- AriseCoin, Bitcoin, Ethereum, Litecoin
Cryptocurrency FraudFalse Advertising And Misrepresentation Of Banking ServicesInitial Coin Offering (Ico)Interagency CooperationMisappropriation Of Investor FundsPrior Criminal History / NondisclosureRegulatory Enforcement In Cryptocurrency SpaceSecurities FraudWire Fraud
Primary source
Every fact above is drawn from the Department of Justice's own announcement — a public-domain government record.
Read the original DOJ release →This is a research and reference page compiled from public DOJ announcements, not legal advice. Details reflect the government's statements as of its release date and may not capture later developments such as appeals, dismissals, or overturned convictions. Defendants are presumed innocent unless and until proven guilty.