Consumer warning: The cryptocurrency pyramid scheme
Description
The Division of Consumer Affairs (DCA) within the Office of the Tennessee Attorney General is investigating complaints about recruitment schemes offered by various Bitcoin websites.
The complaints coincide with an uptick in companies claiming to use artificial intelligence and Bitcoin to maximize returns on investment. These companies offer money for every additional investor you recruit.
Assistant Attorney General Tate Ball tells us what the Tennessee Attorney General's Office can do and what you should look for to avoid falling for a similar scheme.
Episode notes:
If you feel you’ve been treated unfairly by a company, file a complaint with the Tennessee Division of Consumer Affairs at tn.gov/consumer.
Pyramid distributorship schemes can also be reported to the Federal Trade Commission.
For questions concerning an investment type or to file a complaint regarding fraudulent investment activity, please visit tn.gov/securities.
United States
