Authorities believe certain individuals were targeted in a scam in which BTC Global representatives made promises of earning 50% interest per month, 14% per week and 2% per day.
Certain investors received payments, but at some point, the payments stopped. The police does not state that Bitcaw Trading Company is a cryptocurrency scam, but a website for a company with that name states that it is a bitcoin investment. A unit called the Serious Economic Offenses Unit will investigate the fraud.
A current website for Bitcaw Trading identifies Andrew Caw as the founder and states that for the last three years he has helped people create wealth through bitcoin. The current website says Bitcaw is not selling mining or trading but is promoting holding bitcoin and keeping its safe. It states that over the last three years, holding bitcoin would have yielded more than 6,000% growth on initial capital.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now