The U.S. Securities and Exchange Commission (SEC) has filed legal action against Brian Sewell and his company Rockwell Capital Management, accusing them of defrauding investors for over a million dollars. According to the SEC, Sewell allegedly misled students of his online crypto course, the Bitcoin Academy, into investing in the Rockwell Fund. The regulator claims that instead of deploying the advertised trading strategies using artificial intelligence, Sewell invested the funds in Bitcoin, which were subsequently lost in a hacking incident. Sewell and Rockwell Capital Management have agreed to settle the fraud charges without admitting guilt, subject to court approval.
The case highlights the importance of due diligence and transparency in the crypto industry, especially when it involves investment offerings and educational services. The SEC’s pursuit of legal action and the proposed settlement signal the need for accountability and adherence to securities laws in the cryptocurrency space. Investors and students are urged to exercise caution and verify the legitimacy of investment opportunities and educational programs to avoid falling victim to potential fraud.
