Texas Regulator Blocks Crypto Debit Card Investment Scheme

Law360 (August 17, 2020, 8:50 PM EDT) -- The Texas State Securities Board has entered a cease-and-desist order against a handful of South African companies for soliciting residents of Austin to invest in a fraudulent cryptocurrency debit card scheme that promises investors guaranteed gains over time.

In a Friday order, the board outlined that Liquidity Gold Trust, Liquidity Gold Solution LLC and Liquidity Global Card Solution LDT, all companies backed by Lance Angus Jerrard, have been running ads on an Austin radio station and social media websites in an attempt to recruit investors for a marketing initiative to attract up to 8 million users for a "Liquidity Card." The...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!