US SEC accuses man of defrauding crypto investors in two digital asset offerings
The SEC reported on Thursday that it had “accused a Latvian citizen of defrauding hundreds of retail investors of at least $ 7 million through two separate offers of fraudulent digital asset securities.” Its first plan took place from January to March 2018. “Auzins fraudulently offered and sold unregistered digital tokens as part of an ICO of Denaro, an alleged multi-currency debit card platform,” said the DRY. The protest accuses that “all claimed products or services offered were fictitious, including the relationship with the credit card issuer”, noting that “Auzins embezzled all income from the ICO”.
Its second program ran from April to July 2019. “Auzins fraudulently offered the unregistered securities of Innovamine, which allegedly offered a cloud mining program,” the SEC described, adding that it “hijacked the almost all of the funds raised as part of the offer “.
Noting that Ivars Auzins defrauded U.S. and foreign investors, the securities regulator explained:
The securities regulator detailed: As we claim, Auzins was engaged in a brazen scheme to defraud retail investors under the guise of profitable digital asset opportunities.
The Latvian citizen is accused of “violating the anti-fraud and registration provisions of the federal securities laws”. The SEC “seeks permanent injunctions, including injunctions based on conduct, restitution plus prejudgment interest, civil penalties and a ban against him.”
Summary of the news:
- US SEC accuses man of defrauding crypto investors in two digital asset offerings
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