The disappointing ambitions of the American Bitcoin Academy come to light, revealing a financial fraud orchestrated by its founder, Brian Sewell. The Securities and Exchange Commission (SEC) exposes the underhanded maneuverings behind a supposedly revolutionary hedge fund, resulting in a collective loss of more than $1 million for fifteen students.
American Bitcoin Academy’s Deceptive Promises – $1.2 Million Fraud Revealed
Brian Sewell, the founder of the American Bitcoin Academy, finds himself at the heart of a financial scandal after Gary Gensler’s Securities and Exchange Commission revealed a fraud of more than a million dollars. The allegations indicate that Sewell persuaded fifteen students toinvest in a phony hedge fund called Rockwell Fundclaiming to use revolutionary strategies based on artificial intelligence.
Promises of an AI-focused fund turned out to be a fraudulent scheme, leaving students with a collective loss of $1.2 million, says Bloomberg. The SEC has intensified its scrutiny of 51-year-old American Bitcoin Academy founder Brian Sewell, who allegedly influenced them to invest in the Rockwell fund. The alleged revolutionary strategies promised lucrative returns in the volatile cryptocurrency market.
Based first in Hurricane, Utah, and then in Puerto Rico, Sewell allegedly kept investors’ money in bitcoin, but then lost those funds following a hacking your digital wallet. The SEC brought fraud charges against Sewell and his company Rockwell Capital Management, resulting in a settlement without admission or denial of guilt.
Online crypto trading course: a financial illusion
The founder of the American Bitcoin Academy is under the spotlight from the Securities and Exchange Commission for allegedly defrauding his students by promising a revolutionary hedge fund, supposedly powered by artificial intelligence and machine learning. Investigations, however, reveal that these touted strategies never saw the light of day, just like the fund itself.
“ Sewell’s representations were false. As Sewell knew full well, he had no prior experience running a hedge fund », Specifies the SEC in its complaint.
The unfulfilled commitments of the founder of the American Bitcoin Academy place him under scrutinyan SEC complaintaccused of violating the anti-fraud provisions of the federal securities laws.
While the American regulator continues to track down scammers, Rockwell Capital Management, Sewell’s company, agreed to return funds. Brian Sewell himself faces a substantial civil penalty.
One more warning in this sector where fantastic promises often turn out to be financial scenarios devoid of any reality.
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