My Crypto Mine (Bitqyck) securities fraud cease and desist issued
A securities fraud cease and desist that closely ties into Bitqyck has been issued in Texas.
Bitqyck was launched in early 2017 by co-founders Bruce Bise and Samuel (Sam) Mendez.
They were joined by Mark Steven Royer shortly after launch.
The Texas Securities Board refers to Bise as “a white collar criminal”. Mendez is a former attorney who was disbarred ‘after committing acts of dishonesty and moral turpitude by misappropriating funds‘.
In other words, your typical MLM cryptocurrency company owners.
Bitqyck marketed their bitqy altcoin. The shitcoin was marketed and ultimately dumped onto gullible investors, on the basis it “could increase” from 2 cents to $3 per token.
As early as May 2017, Respondent Royer joined Bise and Mendez in offering bitqy to the public.
He was encouraging potential investors who “missed out” on bitcoin to invest with Bitqyck, claiming that it would “create a new digital economy”.
In typical MLM cryptocurrency pump and dump fashion;
Bitqy did not increase in price to $3.00 per token.
Instead, bitqy lost more than 99% of its value, dropping from $0.02 per token to only $0.000572 per token as of November 11, 2018.
BehindMLM published a review of Bitqyck in March 2017.
We identified Bitqyck as a relaunch of the Mendez’s failed Calorchi e-commerce platform, through use of the MLM crypto pump and dump model.
After a failed attempt to circumvent US securities law with “offshore mining”, Bitqyck was officially abandoned in June 2018.
The Bitqyck affiliate-base was sold for an undisclosed sum to Tierra Science Global last month.
In the aftermath of Bitqyck’s collapse, Mark Royer (right) has launched “My Crypto Mine”.
Whether Royer is working alone on My Crypto Mine is unclear.
Rather than disclose his only cryptocurrency experience is the launch of an MLM pump and dump shitcoin, Royer presents himself as having been “involved in cryptocurrency for the past 10 years”.
My Crypto Mine appears to be more of the same. Gullible affiliates are being asked to invest $10,000 or more on the promise of returns of up to 20% every four weeks.
Respondents are touting the security of the investment issued by My Crypto Mine, claiming the investment has no risk, the returns are guaranteed, and investors’ capital will never lose its value.
They also claim the trading is audited twice per year, thereby affording investors an additional means of security.
Additionally, Bice, Mendez and Royer are also claiming My Crypto Mine has
been selected by a “major national Church” to be their “recommended Crypto/Passive investment for their 6 million members”.
Without legally required regulatory registration and disclosure to their investors and the public, My Crypto Mine’s claims are baloney.
Neither My Crypto Mine, Bitqyck, Bruce Bise, Sam Mendez or Mark Royer are registered to offer securities in Texas (or anywhere in the US for that matter).
In a securities fraud cease and desist issued on November 27th, the Texas Securities Board has ordered the company cease violating the Texas Securities Act.
If he wishes to prove he’s not running a Ponzi scheme, Royer has 31 days to request a hearing.
Given Bise and Mendez decided to do a runner rather than operate Bitqyck legally, I wouldn’t be holding my breath.
Update 1st December 2018 – In response to the Texas Securities Board’s cease and desist, Sam Mendez and Bruce Bise are claiming they have nothing to do with My Crypto Mine.
The article above as originally published has been updated to reflect that.