The American Securities and Exchange committee continued the Cryptographic Company Unicoin and three leaders on Tuesday evening for accusations of fraud, saying that the company had raised more than $ 100 million for tokens who were not really supported by the real estate that its executives claimed.
The SEC continued Unicoin, CEO Alexander Konanykhin, the former chairman of the board of directors Maria Moschini, main vice-president and general counsel Richard Devlin and former director of investors and responsible for relations with investors Alejandro Dominguez for violations of securities law,
Among her allegations, the SEC said that Unicoin never really had the real estate properties she had told the investors that she had acquired and that the values of these properties were swollen.
“For example, between September 2023 and January 2024, promotion defendants announced property acquisitions in Argentina, Thailand, Antigua and Bahamas, allegedly with values evaluated totaling more than $ 1.4 billion;
The defendants “also overestimated the sales of the company” of its rights certificates, suggesting in publications on social networks and for investors that it had collected many more funds than it had done, the SEC claimed. While Unicoin said that he had made $ 3 billion in sales by June 2024, he has never sold more than $ 110 million in his rights certificates, according to the complaint.
In addition, Unicoin has announced its rights certificates, in particular by updated promising yields up to 9 million percent, the presumed dry, pointing marketing efforts on taxis, ferries, “office construction lift screens”, digital display panels, covers, television programs, news websites and public Wi-Fi.
“Additional examples of the promotion of defendants’ statements include: (a) social networks publications and the website that have presented potential yields of 9,000,000% on the basis of growth of 9,000% bitcoin in the last 10 years and have told investors to” benefit from a sharp increase in the value of the first adopters in millionaires and millions of bitcoins in the first adopters in the first adopters, tickets “.
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Unicoin received an opinion from Wells de la SEC last December, informing the company that the regulator – then under the direction of former president Gary Gensler – intended to file a complaint for securities fraud. Last month, Konanykhin sent a letter to the shareholders of Unicoin, informing them that the company had pushed the attempt to settle the accusations, rejecting what he described as an “ultimatum” to attend a settlement negotiation meeting before April 18.
“We refused to introduce ourselves,” Konanykhin told Coindesk in an interview in April, adding that the SEC had made certain pre-reunion requests that he considered “unacceptable” and claiming that the SEC survey had caused “damages of several billion dollars” to the company.
Read more: The CEO’s CEO attempt from Unicoin rejected to settle the law implementation probe
Neither Konanykhin nor a spokesperson for Unicoin responded to the request for comments from Coindesk by the time of the press. In a press release shared earlier this year in response to an article in the Wall Street Journal, a spokesperson said: “Unicoin, the only cryptocurrency company, regulated in the United States, the United States, and the writing of the United States, has always complied with all regulations.”
According to court documents, the dry requires diversions and civil sanctions.
