The Idaho Department of Finance (the “Department”) joined twenty-four other state financial regulatory agencies in taking collective action against Plutus Financial, Inc., Abra Trading, LLC, Plutus Financial Holdings, Inc., Plutus Lending, LLC (collectively known as “Abra”), and CEO and largest equity owner William “Bill” Barhydt for operating a cryptocurrency company without receiving the required state licensing.

Imposter scams are a growing threat to consumers nationwide, and Idahoans are being targeted at an alarming rate, along with consumers throughout the country.

Patricia Perkins, Director of the Idaho Department of Finance, is warning consumers to look closely at incoming mail that may appear to be correspondence from regulated consumer lenders but are really third-party advertisements or even scams.