AriseBank CEO Jared Rice, who faced 120 years in prison for defrauding investors of $4 million in a cryptocurrency scam, has pleaded guilty. The cryptopreneur plead guilty yesterday morning after standing in front of judges in Texas, local outlet Dallas News reports. Rice conned investors by guaranteeing “no-risk returns” of between 10 and 20 percent on investments made into his startup. He admitted to one count of securities fraud, saying that he did indeed lie to investors. He also promised Visa-branded cards despite having no relationship with the payment services provider. Rice has also claimed that AriseBank’s initial coin offering…

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