Tagged: enforcement

FINRA Sanctions Arthur Breitman, Co-Founder of Tezos

Arthur Breitman, AKA Arthur Meunier, was sanctioned by FINRA this past week for his dealings with the infamous Tezos initial coin offering (ICO) that raised approximately $232 million. Breitman signed the document on April 17th and it was accepted by FINRA on the next day. … Read More

SEC Adds Charges Associated withe Centra Initial Coin Offering Fraud, Says Raymond Trapani was “Mastermind” Behind the Scam

The Securities and Exchange Commission (SEC) has released additional fraud charges affiliated with the Centra Tech $32 million initial coin offering (ICO) that raised money in 2017. Ealier this month, the SEC filed a complaint against Centra Tech, Sohrab “Sam” Sharma and Robert Farkas regarding… Read More

ATM Coin Issuer Hit with CFTC Enforcement Action Alleging Fraud

The Commodity Futures Trading Commission (CFTC) has fired off another enforcement action against a questionable cryptocurrency operation. The CFTC has charged multiple individuals, and several companies, with fraud involving ATM Coin (asset trading market coin) and binary options. The CFTC filed the Complaint in the… Read More

Renwick Haddow, a Cryptocurrency Con Man, Extradited to the US from Morocco

Renwick Haddow, a UK national, was extradited from Morocco to the US for committing fraud that saw over $36 million stolen from investors. The extradition is just part of a long criminal saga by Haddow. Last year, the SEC joined the U.S. Attorney’s Office for the… Read More

Longfin Says it Will Fully Cooperate with SEC as Feds Freeze $27 Million in Assets, Trading in Shares are Halted

Longfin Corp. (NASDAQ:LFIN) was hit with a formal request by NASDAQ to provide additional information regarding recent trading activity. The shares were placed on a T12 trading halt on Friday as the Securities and Exchange Commission (SEC) filed a formal complaint against Longfin that included… Read More

My Big Coin Tells Court Tokens aren’t Regulated by CFTC Because they are Not Commodities

My Big Coin (MBC) was hit with an enforcement action by the Commodity Futures Trading Commission (CFTC) back in January of this year. The CFTC alleged, among other things, that MBC’s initial coin offering represented to investors as being actively traded on cryptocurrency exchanges when in fact… Read More

Centra Tech ICO Hit by Fraud Allegations, Defendants Charged Criminally and Arrested. This One was Pumped by Floyd Mayweather

So what is it with boxers and bogus initial coin offerings? The Securities and Exchange Commission (SEC) has filed a complaint alleging securities fraud with another ICO. This time it is Centra Tech, the creation of Sohrab “Sam” Sharma and Robert Farkas. The ICO reportedly… Read More

SEC Updates on AriseBank ICO Scam that was Pumped by Evander Holyfield

The Securities and Exchange Commission (SEC) has posted an update regarding the ongoing case against AriseBank and their initial coin offering which has been deemed a scam by the regulator. This same ICO was pumped by famous boxer Evander Holyfield. In fact, a press release was issued… Read More

State of Massachusetts Issues “Cryptocurrency ICO Sweep” Regarding Alleged Securities Violations

The State of Massachusetts Securities Division, under the direction of Secretary William Galvin, has issued a series of Consent Orders pertaining to five different initial coin offerings (ICOs). The following issuers received the orders: 18Moons, Inc Across Platforms, Inc. DBA ClickableTV SparkCo Inc, DBA Librium… Read More

No Surprise: SEC Enforcement Division Co-Director Stephanie Avakian Says Dozens of Investigations Ongoing in Cryptocurrency Space

The Securities and Exchange Commission (SEC) first launched investigations into initial coin offerings (ICOs) and the gatekeepers that have been facilitating these offerings several months back. The news of these investigations was first published by Crowdfund Insider in late February. Chatter regarding investigations had been building… Read More

Credit Karma Pays $160,000 Penalty Following SEC Charges of Unlawfully Offered Securities to Employees

The Securities and Exchange Commission (SEC) slapped the wrist of Credit Karma with a $160,000 penalty. The SEC said the San Francisco-based Fintech has agreed to settle charges that it unlawfully offered securities to its employees and failed to provide them with timely financial statements… Read More

How to Respond to an SEC Subpoena: The Top Ten Tips for Cryptocurrency Entities

  For initial coin offering (ICOs or token offerings, SAFT, etc.) issuers, investors, token holders, and anyone else operating in the cryptocurrency market, the message of recent days is clear: the U.S. Securities and Exchange Commission has shifted into high gear. News reports indicate that… Read More

It’s Raining Subpoenas: Techcrunch Founder Michael Arrington Receive’s Notice from SEC Regarding Cryptocurrency Investment

Techcrunch founder Michael Arrington is on the receiving end of a subpoena from the Securities and Exchange Commission (SEC) regarding initial coin offerings (ICOs), according to a report from CNBC. Arrington, who departed Techcrunch quite some time ago, is involved in a cryptocurrency fund. Arrington… Read More

WSJ Says “Scores” of Subpoenas Issued by SEC Regarding Initial Coin Offerings

“Scores” of subpoenas are being issued by the Securities and Exchange Commission (SEC) regarding initial coin offerings (ICOs), according to a brief write up in WSJ.com. The report echos what Crowdfund Insider reported earlier this week as industry insiders have been talking about SEC investigations… Read More

SEC Smacks Down Persistent Alleged Fraudster Steven Muehler Who at One Time Announced a “National Crowdfunding Stock Exchange”

The Securities and Exchange Commission (SEC) has filed charges against Steven J. Muehler, his wife Claudia M. Muehler, his associate Koorosh “Danny” Rahimi and and three companies under control. The SEC enforcement action alleges operating an unregistered broker dealer, facilitating unregistered securities, defrauding small businesses while promising… Read More

RECoin ICO Creator Maksim Zaslavskiy Files Motion to Dismiss Lawsuit Stating Tokens are Not Securities & thus Not Regulated

Towards the end of last year, Maksim Zaslavskiy was hit with several lawsuits regarding an inital coin offering (ICO) that was deemed an unregistered security by the Securities and Exchange Commission (SEC) along with alleged acts of fraud. The SEC charged Zaslavskiy,  REcoin Group Foundation, DRC World, Diamond Reserve Club, … Read More

Long Blockchain, Previously Listed as Long Island Iced Tea, Receives De-Listing Notice

Long Blockchain Corporation (NASDAQ:LBCC), a company that famously changed its name from Long Island Iced Tea Corporation as it refocused its business on Blockchain technology, has received a de-listing notice from NASDAQ. According to and 8-K filed with the SEC, Long Blockchain received a Notice of… Read More

SEC Charges Former Crypto Exchange BitFunder and Founder Jonn Montroll with Fraud

  The Securities and Exchange Commission (SEC) swooped in and filed fraud charges against a former Bitcoin-denominated platform and its founder Jon E. Montroll with operating an unregistered securities exchange and defrauding users of that exchange. The SEC added that the operator also made false and… Read More

Philippines SEC Issues Cease & Desist for KROPS ICO: “The World’s First Agriculture Marketplace Crypto Equity ICO”

The KROPS Initial Coin Offering has received a Cease & Desist (C&D) from the Philippines Securities and Exchange Commission. The C&D, embedded below, demands the immediate halt to the sale of KROPS Tokens or KropCoins. The SEC states the company has not filed the necessary… Read More

Slam the Brakes: SEC Halts AriseBank Initial Coin Offering that Claimed to Have Raised $600 Million, ICO Pumped by Boxing Champ Evander Holyfield

The Securities and Exchange Commission (SEC) has slammed the brakes on another initial coin offering (ICO) that flouted established securities laws. The SEC obtained a court order halting the AriseBank ICO that targeted retail investors to invest in the “world’s first decentralized bank. AriseCoin’s public… Read More