Geek Group Shuts Down After Federal Authorities Raid Office For Crypto Trading January 7, 2019 January 7, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJanuary 7, 2019 by Kelly Cromley

Geek Group Shuts Down After Federal Authorities Raid Office For Crypto Trading

Federal agencies in the United States reportedly raided the Michigan-based science and technology center office last month during a crypto-related investigation, reported local news outlet Wood-TV on 5 January. The news outlet reported that on Saturday night Chris Boden, founder of The Geek Group, made a live public statement on YouTube, but was subsequently removed.

The founder of the innovative technology hub, formerly known as The Geek Group, used YouTube on Saturday night to explain why the company closed after a raid of the West Side offices by the FBI and the Homeland Security Agency.

Chris Boden, president of the NW National Science Institute on Leonard Street, said that on December 21, computers, hard drives and other equipment were removed from the office because he traded in cryptocurrencies without proper authorisation.

Boden said that he believes that he is facing federal jail, in addition to $100,000 expenses in the form of legal costs. Using explicit language, Boden took responsibility for his actions and blamed the closure of the company, which took place 10 days after the attack.

“I did a stupid thing, I made a bad decision, so I’m going to pay for it.” Boden said Saturday.

The non-profit organization related to science and technology was founded in 1994. It provided work spaces for people and provided families with services such as low-cost computers and served as an incubator for local innovations.

Boden said that all the assets of the companies, including the building, are sold out. What charges Boden may face is unclear. Federal officials refused to comment. On Sunday, on the advice of his lawyers, Boden issued a statement saying that he will not comment further.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.