AriseBank, A very ambitious decentralized blockchain banking company, has had their office raided yesterday by the FBI and all Assests seized, including over 600 million raised in their ICO
AriseBank was issued with a cease and desist order last month to halt operations by Texan banksters, the banksters claim Arisebank was in violation of state codes and were legally not allowed to call themself a bank.
Jarod Rice Sr. CEO had assured investors they had nothing to worry about as their are many companies with the name "bank" such as blood banks, sperm banks and the like, Rice assured his legal team were adamant nothing would come of this..
Though as of yesterday with the cease and desist order's deadline coming to end, with AriseBank failing to cease operations or appeal the order, the FBI swooped in and shut down the operation.
There is talk of funds being raised at the moment for the legal team, as all Assests have been seized by the FBI..
AriseBank had a very successful ICO raising over 600 million in funds and even had US boxer Evander Holyfeild promoting the project, The company actually looked like it was going to be a real winner..
Hopefully they can raise the funds needed and fight these dirty banksters.....time will tell...
Source:
https://www.coindesk.com/texas-halts-crypto-banking-operation-over-regulatory-violations/