The US Securities and Trade Fee has charged crypto platform Unicoin and three of its executives, alleging they made false and deceptive statements about its crypto belongings that raised $100 million from traders.
The SEC mentioned on Might 20 that it charged Unicoin CEO Alex Konanykhin, board member Silvina Moschini, and former funding chief Alex Dominguez with deceptive traders about certificates that conveyed rights to obtain Unicoin tokens and inventory.
Mark Cave, affiliate director within the SEC’s Division of Enforcement, claimed the trio “exploited 1000’s of traders with fictitious guarantees that its tokens, when issued, could be backed by real-world belongings together with a global portfolio of beneficial actual property holdings.”
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“The true property belongings had been value a mere fraction of what the corporate claimed, and the vast majority of the corporate’s gross sales of rights certificates had been illusory,” Cave added.
The SEC’s criticism, filed in a Manhattan federal courtroom, charged Unicoin and the three executives with numerous securities legal guidelines violations and asks for everlasting injunctive reduction, together with paying again the allegedly ill-gotten positive aspects.
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