{"id":129666,"date":"2025-05-21T02:15:31","date_gmt":"2025-05-21T02:15:31","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129666"},"modified":"2025-05-21T02:15:31","modified_gmt":"2025-05-21T02:15:31","slug":"sec-charges-unicoin-and-executives-for-alleged-100-million-fraud","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129666","title":{"rendered":"SEC charges Unicoin and executives for alleged $100 million fraud"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe US Securities and Exchange Commission has charged crypto platform Unicoin and three of its executives, alleging they made false and misleading statements about its crypto assets that raised $100 million from investors.<br \/>\nThe SEC said on May 20 that it charged Unicoin CEO Alex Konanykhin, board member Silvina Moschini, and former investment chief Alex Dominguez with misleading investors about certificates that conveyed rights to receive Unicoin tokens and stock.<br \/>\nMark Cave, associate director in the SEC\u2019s Division of Enforcement, claimed the trio \u201cexploited thousands of investors with fictitious promises that its tokens, when issued, would be backed by real-world assets including an international portfolio of valuable real estate holdings.\u201d\u00a0<br \/>\nRelated: SEC crypto task force to release first report &#8216;in the next few months&#8217;<br \/>\n\u201cThe real estate assets were worth a mere fraction of what the company claimed, and the majority of the company\u2019s sales of rights certificates were illusory,\u201d Cave added.<br \/>\nThe SEC\u2019s complaint, filed in a Manhattan federal court, charged Unicoin and the three executives with various securities laws violations and asks for permanent injunctive relief, along with paying back the allegedly ill-gotten gains.<br \/>\nMagazine: SEC\u2019s U-turn on crypto leaves key questions unanswered<a href=\"https:\/\/cointelegraph.com\/news\/sec-charges-unicoin-100-million-fraud?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe US Securities and Exchange Commission has charged crypto platform Unicoin and three of its executives, alleging they made false and misleading statements about its crypto assets that&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129666"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129666"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129666\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129666"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}