The New Jersey Bureau of Securities directed the management of Bulk Investments, Forte Trade, Dilna Investments d/b/a Fidelity Revenue, RealBitcore Mining and FilefxOption to cease operations.
The document states that the firms ‘offer securities that are not covered by federal law and are not registered with the Bureau and are not exempt from such a requirement’. There is no mention of criminal charges.
The regulator identified signs of fraud in the companies’ operations. According to authorities, the projects attract investors by combining ‘vague’ promises of high returns from ‘investment strategies’, false statements about registration, and fake reviews.
The Bureau reported three users of Bulk Investments, Forte Trade, Dilna Investments d/b/a Fidelity Revenue, who were unable to withdraw their invested funds totaling $90,000.
Earlier the Texas financial regulator issued three emergency orders to cease operations of 14 cryptocurrency companies suspected of fraud.
In March, state authorities filed allegations against three unregistered projects. One of them operated under the Binance brand of the Bitcoin exchange.
The New Jersey Bureau of Securities, along with regulators in several other states, accused crypto-lending platforms BlockFi and Celsius Network of selling unregistered securities.
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