Recently, the Texas State Securities Board and the Alabama Securities Commission each issued emergency cease and desist orders to stop Sand Vegas Casino Club and its principals from.
Virtual casinos in the United States, maily located in Texas and Alabama, are defrauding the public as per the securities regulators in the states.
They were also reportedly selling non-fungible tokens and illegally offering unregistered securities.
According to the Texas Securities Board, in a "high-tech fraudulent securities offering" co-founders of the Sand Vegas Casino Club, Martin Schwarzberger and Finn Ruben Warnke allegedly conducted fundraisers to build virtual casinos.
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By Chris Prentice WASHINGTON (Reuters) -Securities regulators in the U.S. states of Texas and Alabama on Wednesday ordered an online casino developer to