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Posts Tagged ‘Charges’

Former Locke Lord Attorney Faces Laundering Charges

A former attorney from Locke Lord LLP pled not guilty on a new indictment that further charged him with bank fraud and laundering $400 million related to a widely known cryptocurrency scam, OneCoin. OneCoin Trial Continues Mark S. Scott appeared at a conference before U.S. District Judge Edgardo Ramos in Manhattan, ahead of the trial…

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SEC Charges Adult Entertainment Token Platform With 2017 ICO Fraud

The U.S. Securities Exchange Commission charged Jonathan Lucas, 27, the CEO of online adult entertainment marketplace, with running a fraudulent initial coin offering (ICO) scheme. According to the SEC’s lawsuit, the company claimed that investors could purchase its token and use them to request certain actions in a live adult performance on the platform. “Fantasy…

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US District Attorney Charges OneCoin Founders With ‘Billions’ in Alleged Fraud

A United States District Attorney has charged the founders of an international cryptocurrency pyramid scheme that involved the marketing of an allegedly fraudulent digital currency called “OneCoin.” The announcement was published by the U.S. Attorney Office of the Southern District of New York on March 8. The founders and leaders of OneCoin, Konstantin Ignatov and…

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AriseBank Founders to Pay $2.7 Million in Fines to Settle ICO Fraud Charges

  A United States federal court has ordered two executives from crypto firm AriseBank to pay nearly $2.7 million in fines, according to a U.S. Securities Exchange Commission (SEC) announcement Dec. 12. The ruling follows an investigation by the SEC, which found that AriseBank was  operating a fraudulent Initial Coin Offering (ICO). AriseBank CEO Jared…

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Former AriseBank Execs Settle Charges in SEC ICO Fraud Lawsuit

The U.S. Securities and Exchange Commission (SEC) has settled charges with two former executives of AriseBank, which was hit with a token sale fraud lawsuit in early 2018. Former AriseBank CEO Jared Rice Sr. and former COO Stanley Ford will pay a combined $2.7 million in disgorgement and penalties, as well as $187,767 each in…

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US SEC Charges Floyd Mayweather Jr and DJ Khaled for Unlawfully Promoting ICO

The U.S. Securities and Exchange Commission (SEC) has charged professional boxer Floyd Mayweather Jr. and music producer Khaled Khaled for unlawfully advertising Initial Coin Offerings (ICOs), according to a press release published Nov. 29. Per the announcement, the SEC found that Mayweather did not disclose promotional payments from three ICO issuers, including $100,000 from cryptocurrency…

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SEC Settles Charges Against DJ Khaled and Floyd Mayweather

The US Securities and Exchange Commission (SEC) has settled charges against DJ Khaled and Floyd Mayweather Jr for unlawful ICO promotion. Both celebrities have agreed to pay the financial penalties without admitting or denying the findings. Failure to Disclose In an official release dated November 29, the SEC has announced the settlement of charges against…

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Further Charges Levelled at Suspects in Alleged Cryptocurrency Investment Scam

Police in the northern Indian city of Chandigarh have filed a chargesheet against four suspects accused of scamming a victim out of ₹6-10 crore ($0.8 – 1.4 million) in a cryptocurrency investment fraud, local English-language broadsheet the Times of India reports Nov. 22. b. The four accused are the main suspect, Amit Bhardwaj, his brother,…

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SEC Settles Securities Registration Charges Against 2 ICO Startups

Two cryptocurrency startups have agreed to register their initial coin offering (ICO) tokens as securities after settling charges with the U.S. Securities and Exchange Commission. The SEC’s Friday announcement centered on two firms: CarrierEQ Inc., also known as Airfox, and Paragon Coin Inc., both of which conducted token sales last year. Airfox raised $15 million…

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