Review by John Getson on USI-TECH Limited

  • January 18, 2018
  • By Van-Ons

Regulators in Texas have obtained an emergency cease-and-desist order against a company they say is unlawfully pitching bitcoin mining investment products that purports to pay a one per cent return per day over a 140-day period.in the state. The Texas State Securities Board revealed that it had taken action against USI-Tech Limited, a firm based in Dubai. This model of recruiting has similar characteristics of a Pyramid scheme,” says Jason Roy, senior investigator with the MSC. “The individual who has come forward has convinced friends to invest in USI-TECH, and has profited through recruitment fees. “Something many people do not realize, is that actively soliciting others to participate in this type of scheme is a violation of The Securities Act,” says Roy, “meaning that your participation can leave you open to sanctions—including serious financial penalties Additionally, the British Columbia Securities Commission (a Canadian securities regulator) has added bitcoin and Forex broker USI-TECH Limited (USI) to its list of warnings, stating that USI-TECH is not registered to trade in, or advise on, securities or exchange contracts in BC or elsewhere in Canada. Another Canadian regulator (the Manitoba Securities Commission) is also warning against UAE-based Bitcoin broker USI-TECH, operating from website usitech-int.com.

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