#ico fraud

[thecryptoreport]

SEC Charges Three of Stealing $11.4M Through Token Backed by Actor Steven Seagal

SEC Charges Three of Stealing $11.4M Through Token Backed by Actor Steven Seagal

The U.S. Securities and Exchange Commission (SEC) on Monday charged three associates of defunct crypto firm Bitcoiin2Gen with defrauding investors of $11.4 million through the 2018 B2G token offering infamously peddled by actor Steven Seagal. Bitcoiin2Gen and Start Options founder Kristijan Krstic and company promoter John DeMarr allegedly violated federal securities laws during the 2018 raise…

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[thecryptoreport]

US Prosecutors Seek ‘Substantial’ Prison Sentence for Centra Tech Co-Founder in $25M Fraud Token Sale

US Prosecutors Seek ‘Substantial’ Prison Sentence for Centra Tech Co-Founder in $25M Fraud Token Sale

U.S. federal prosecutors are seeking a substantial prison sentence for Robert Farkas, one of the co-founders of crypto project Centra Tech, which garnered multiple celebrity endorsements for its initial coin offering (ICO) in 2017. Farkas later pleaded guilty to fraud. 

In a sentencing submissionfiled with the U.S. District Court for the Southern District of New York on Oct. 30, federal…

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[thecryptoreport]

US Prosecutors Ask to Pause SEC Action Against Alleged Crypto Scammer

The U.S Attorney’s Office for the District of New Jersey is seeking to pause the Securities and Exchange Commission’s (SEC) civil action against Blockchain Terminal founder Boaz Manor while it conducts its own criminal case against Manor’s alleged $30 million ICO fraud.

Assistant U.S. attorneys said in a Wednesday memorandumtheir prosecutions of Manor and associate Edith Pardo “substantially…

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[thecryptoreport]

Beware – Million Dollar ICO’s Founder and Assets Caught by Canadian Police

Beware – Million Dollar ICO’s Founder and Assets Caught by Canadian Police

ICO sale was the hottest trend in the year 2017 – among all such ICOs, the parent of FUEL token had raised a total of $30 million CAD (Canadian dollar). Recently, Canadian police ran an investigation into FUEL token and its founders which runs a firm called, Vanbex.

Etherparty / FUEL Token Caught with Fraud Charges

Per the reports, the company is a brainchild of Kevin Hobbs and Lisa Cheng…

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[thecryptoreport]

SEC Files Emergency Action Against Organizer of ‘Fraudulent’ $15 Million ICO

SEC Files Emergency Action Against Organizer of ‘Fraudulent’ $15 Million ICO

The U.S. Securities and Exchange Commission (SEC) is seeking to freeze the assets of Reggie Middleton, organizer of the $14.8 million Veritaseum (VERI) initial coin offering (ICO).

According to an emergency action filed Monday in the U.S. District Court for the Eastern District of New York, Middleton conducted a fraudulent and illegal ICO in 2017 and manipulated the securities’ value afterward.

A…

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