US Federal Agencies Raid Tech Hub For Unauthorized Crypto Trading

US Federal Agencies Raid Tech Hub For Unauthorized Crypto Trading

The office of technology hub The National Science Institute, previously known as The Geek Group, was reportedly raided by United States federal agencies for unauthorized cryptocurrency trading.

Local news outlet Wood-TV reported that Geek Group founder Chris Boden made a live public statement on YouTube Saturday night regarding the closure of his company. He claimed that members of the U.S. Federal Bureau of Investigation or FBI and the Department of Homeland Security or DHS took away computers, hard drives, and other equipment from his office.

Boden said the raid was for commercially trading in cryptocurrencies without the proper authorization. As per the TV report, Boden believes he is facing federal prison time and up to $100,000 in legal expenses. He also said that all of the businesses’ assets, including the building, will be sold off.

The YouTube message was since been deleted. However, he later said, “On the advice of legal council I will not comment further on the Government’s ongoing investigation.”

The nonprofit tech-science organization was created in 1994 for providing workspaces for people, and acted as an incubator for local innovation.

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