Nobody Is Above The Law: The Judge Issued A Warrant For Ex-Senator Arrest

The Texas Federal Court decided to arrest the former Senator David Schmidt. He is accused of fraud - the organization of cryptocurrency scam Meta 1 Coin.

Due to the pandemic, the hearing was held in the form of a videoconference. The judge issued an arrest warrant only for Schmidt; the other defendants will not be arrested so far. The judge believes the arrest of the ex-senator is a much more revealing measure than a fine, given the scale of the funds raised.

Recall that the US Securities and Exchange Commission (SEC) carried a thorough investigation and found that the organizers of the Meta 1 Coin project raised more than $4.3 million, and more than 150 people from around the world invested the project in two years.

Financial scammers assured that the value of Meta 1 Coin tokens is pegged to a collection of artwork, estimated at 1 billion US dollars, as well as to gold at 2 billion US dollars. The SEC informs, no collection of art and gold exists, and investors have not received a single Meta 1 Coin during this time.

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