The US Securities and Exchange Commission will charge the Crypto Platform Unicoin and three of its executives, allegedly making false and misleading statements about crypto assets raising $ 100 million from investors.
The Sec Says On May 20, he charged Unicoin CEO Alex Konanykhin, board member Silvina Moschini, and former chief chief Alex Dominguez along with misleading investors about certificates who provided the rights to receive Unicoin tokens and stocks.
Mark Cave, Associate Director of the SEC’S Division of Enforcement, claimed the trio that “exploited thousands of investors with fictional promises that its tokens, when issued, will be supported by real-world assets including an international portfolio of valuable real estate handlers.”
Related: SEC Crypto Task Force to release first report ‘in the next few months’
“Real estate ownership costs only a fraction of the company’s claims, and most sales of the company’s rights certificates are unreasonable,” Cave added.
The SEC’s complaint, filed in a federal Manhattan court, will be charged Unicoin and three executives with various violations of security law and requesting permanent relief, along with the payment of alleged bad acquisitions.
Magazine: SEC U-Turn to Crypto leaves key questions that are not answered
