TechFlow News, the SEC has charged 51-year-old Brian Sewell, founder of American Bitcoin Academy, and his company Rockwell Capital Management, with defrauding students of its online cryptocurrency trading course.
The defendants falsely claimed their hedge fund would generate returns using sophisticated tools such as artificial intelligence, resulting in $1.2 million in losses for 15 students.
Brian Sewell and Rockwell Capital Management have agreed to settle the fraud charges with the SEC. Rockwell Capital Management will pay $1,602,089 and Sewell will pay $223,229.
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