The story of Renwick Haddow, who created a broker-dealer and did not register the firm with the SEC as required under the federal securities laws. Haddow allegedly used sales representatives to cold call potential investors and sell securities in Bitcoin Store Inc. and Bar Works Inc.
In fact, SEC alleges that Bitcoin Store has never had any operations nor generated the gross sales it touted, while Bar Works sold leases for more work-spaces than actually existed, and made false claims to investors.
You can read the full story on SEC press-release