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Texas, Alabama securities regulators serve a casino NFT scheme cease-and-desists

The Texan securities regulator has issued an emergency cease and desist order to a metaverse investment scheme it has accused of being fraudulent The Texas Securities Commission is accusing Sand Vegas Casino Club, Martin Schwarzberger and Finn Ruben Warnke of illegally offering non-fungible tokens (NFTs) to create virtual casinos in metaverse venues like Sandbox, Decentraland, Infinity Void and NFT Worlds. The Alabama Securities Commission has filed a simultaneous cease and desist as well.  Those named in the order have advised …