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Mastermind of failed bitcoin investment scheme sanctioned by ASC

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Cerato did not file a prospectus for WhaleClub and failed to explain the risks to investors, the ASC said.

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The trading scheme instead failed to generate any profits and investors received only a small portion of their initial investment, the investigation found. Cerato told investigators his WhaleClub was “an experiment with cryptocurrency” and a “casual situation,” it said.

 

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