SEC charges Unicoin execs with $100 million crypto fraud in alleged asset-backed token scheme
The U.S. Securities and Exchange Commission (SEC) accused cryptocurrency startup Unicoin and its top executives of orchestrating a massive fraud scheme.
The SEC alleges that they raised more than $100 million from thousands of investors using false promises about asset-backed tokens and inflated fundraising numbers.
A crypto dream built on illusions?
The SEC’s 77-page complaint, filed May 20 in the Southern District of New York, centers on a scheme allegedly masterminded by CEO Alex Konanykhin and senior executives Silvina Moschini and Alex Dominguez.
The SEC claims Unicoin misled over 5,000 investors by marketing “rights certificates” as safe, asset-backed investments, promising that the underlying tokens were secured by billions…
