Surprised AriseBank was not mentioned here. Apparently, this scam raised up to USD$600,000,000. Yea 600million dollars from 'Gullible' investors. I have no idea how this scam artists were able to pull this off so efficiently but they are there in the hall of fame together with the likes of Bernie Madoff , Ken Fitzsimmons etc.. People involved -Jared Rice Sr. and Stanley Ford.They apparently were going to buy 2 banks which did not exist, still how they raised $600million from 'accredited' investors who did not perform any form of due diligence beggars belief.

That is a lot of yatch and cuban cigars they could have brought 

https://bitcoinmagazine.com/articles/sec-halts-arisebank-ico-calling-it-outright-scam/