Bruce Bise
Co-founder of Bitqyck, which sold the Bitqy and BitqyM tokens. The SEC said the firm raised ~$24M from 13,000+ investors via false claims; Bise settled SEC fraud charges (2019) and was sentenced in 2022 to 50 months for tax evasion.
Also known as: Bruce Bise
Bio
Bruce Bise co-founded the Dallas-based Bitqyck with Sam Mendez. The SEC said Bitqyck sold the Bitqy and BitqyM tokens in unregistered offerings — falsely promising fractional Bitqyck stock and interests in a (nonexistent) bitcoin-mining facility — and ran an unregistered exchange, raising money from more than 13,000 investors who lost most of their funds. [1][2]
Legal outcome
In 2019 Bise and Mendez settled the SEC's fraud charges (Bitqyck paid an $8.375M penalty; Bise paid $890,254). Bise later pleaded guilty to tax evasion — having diverted Bitqyck funds for personal use — and was sentenced in March 2022 to 50 months in prison and ~$1.6M owed. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
- SEC Charges Dallas Company and its Founders With Defrauding Investors (Bitqyck) — U.S. SEC
- Founders of Crypto ICO Sentenced to Combined 8 Years for Tax Evasion — CBS Texas (DOJ release summary)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.