SEC crypto enforcement not dead yet
None of the allegations have been proven.
According to the SEC’s complaint, starting in early 2022, the defendants allegedly “engaged in a massive securities offering fraud” that included falsely claiming that the Unicoin tokens were “next generation” cryptoassets that would be backed by a billion-dollar portfolio of real estate assets and holdings of private equities.
The certificates that were sold to investors were offered as securities, the SEC said, and it charged that the company massively overstated the sales of those certificates on social media and in other communications to investors to create “the illusion of robust investor interest.”
It also alleged that they misrepresented the company’s…
