United States v. Tyler Marx

The indictment alleges that the defendant used social media and other forums to conduct a “pump and dump” scheme involving two cryptocurrencies, namely 1CRedit and Belacoin. Marx manipulated the price of, and trading in, 1CRedit and Belacoin cryptocurrencies using materially false statements, deceitful statements of half-truths, and the concealment of material facts in order to defraud investors and obtain illicit proceeds. As a result of this investigation, Marx is charged with one count of conspiracy to commit wire fraud and four counts of wire fraud.