According to the U.S. SEC, Brian Sewell allegedly never launched the crypto hedge fund that promised to use AI and other strategies for maximizing returns.
A crypto trading course instructor is facing charges from the United States securities regulator for misleading 15 students into investing a combined $1.2 million in a hedge fund that promised to generate lucrative returns. Despite claiming to use cutting-edge technology, he allegedly took the funds without ever launching the investment fund.
According to a recent statement published by the U.S. Securities and Exchange Commission (SEC), Brian Sewell, the founder of Rockwell Capital Management, allegedly encouraged investors to place funds into a non-existent hedge fund from early 2018 to mid-2019:
Sewell allegedly promised to use artificial intelligence (AI) and machine-learning technology to maximize investor returns. However, he left his student’s funds parked in Bitcoin (BTC), and eventually, his crypto wallet was hacked, leading to the loss of their entire investment.