Set of cryptocurrencies on dollar bills|Marcoverch|CC BY 2.0
Siblings and founders of the cryptocurrency Ormeus, John and Tina Barksdale, now face federal securities charges from the Securities and Exchange Commission.
The SEC has filed criminal charges against the Barksdales claiming they cheated retail investors to the tune of $124 million.
The Justice Department in a federal indictment also levied a series of allegations against the siblings.
They claimed that the self-proclaimed cryptocurrency marketers used misleading and fraudulent tactics to garner investors to a cryptocurrency that was far less valuable than they had originally represented.
