MetaverseNFTCoins.com
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams
No Result
View All Result
MetaverseNFTCoins.com
No Result
View All Result

US SEC Charges Man With Defrauding Crypto Investors in Two Digital Asset Securities Offerings – Regulation Bitcoin News

December 4, 2021
in Regulations
Reading Time: 3 mins read
A A
US SEC Charges Man With Defrauding Crypto Investors in Two Digital Asset Securities Offerings – Regulation Bitcoin News
ShareShareShareShareShare

The U.S. Securities and Exchange Commission (SEC) has charged a citizen of Latvia with defrauding investors in two crypto offerings. The fraudster “used fake names, fictitious entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised.”

Two Fraudulent Crypto Schemes

The SEC announced Thursday that it has “charged a Latvian citizen with defrauding hundreds of retail investors out of at least $7 million through two separate fraudulent digital asset securities offerings.”

Noting that Ivars Auzins defrauded U.S. and foreign investors, the securities watchdog explained:

Auzins allegedly used fake names, fictitious entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised.

His first scheme ran from January through March 2018. “Auzins fraudulently offered and sold unregistered digital tokens as part of an ICO [initial coin offering] of Denaro, a purported multi-currency debit card platform,” the SEC detailed.

The complaint alleges that “all of the claimed products or services being offered were fictitious, including the relationship with the credit card issuer,” noting that “Auzins misappropriated all of the ICO’s proceeds.”

His second scheme ran from April through July 2019. “Auzins fraudulently offered the unregistered securities of Innovamine, which purportedly offered a cloud mining program,” the SEC described, adding that he “misappropriated nearly all of the funds raised in the offering.”

The securities regulator detailed:

As we allege, Auzins was engaged in a brazen scheme to defraud retail investors under the guise of profitable digital asset opportunities.

The Latvian citizen is charged with “violating the antifraud and registration provisions of the federal securities laws.” The SEC “seeks permanent injunctions, including conduct-based injunctions, disgorgement plus prejudgment interest, civil penalties, and an officer-and-director bar against him.”

Tags in this story
crypto offerings, defraud investors, fraudulent scheme, ICO, initial coin offering, SEC, sec crypto, sec crypto fraud, sec cryptocurrencies, sec cryptocurrency, securities offerings

What do you think about this case? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It


Credit: Source link

ShareSendTweetPinShare
Previous Post

BCH/USD Price Dips Below $500 Support

Next Post

Crypto crash: $570 billion wiped off market cap after major sell-off over regulation fears

Next Post
Crypto crash: $570 billion wiped off market cap after major sell-off over regulation fears

Crypto crash: $570 billion wiped off market cap after major sell-off over regulation fears

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Weekly Updates

How to Buy a Tom Brady NFT: A Beginner’s Guide

How to Buy a Tom Brady NFT: A Beginner’s Guide

January 28, 2023
Game Devs Surprisingly Skeptic About Blockchain and NFTs, Report Says

Game Devs Surprisingly Skeptic About Blockchain and NFTs, Report Says

January 28, 2023
Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

Binance, Galaxy Digital among secret stab for Celsius asset

January 27, 2023
Amazon Moves Into Web3 with New NFT Initiative

Amazon Moves Into Web3 with New NFT Initiative

January 29, 2023
Custodia, a crypto bank in Wyoming, denied membership in Federal Reserve System

Custodia, a crypto bank in Wyoming, denied membership in Federal Reserve System

January 27, 2023
MetaverseNFTCoins.com

This is an online news portal that aims to provide the latest NFT news, crypto news, blockchain, regulations, scams, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch.

What’s New Here!

  • US Senator Focused on Crypto Money Laundering Crackdown — Urges Congress, Regulators to Take Action – Regulation Bitcoin News
  • Hackers Launder $27 Million in Stolen Ethereum From North Korean
  • NFT Collection A.N.I.M.O Price, Stats, and Review

Subscribe Now

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 - metaversenftcoins.com - All rights reserved!

No Result
View All Result
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams

© 2021 - metaversenftcoins.com - All rights reserved!

  • bitcoinBitcoin (BTC) $ 23,766.00 3.28%
  • ethereumEthereum (ETH) $ 1,644.21 4.56%
  • tetherTether (USDT) $ 1.00 0.15%
  • usd-coinUSD Coin (USDC) $ 1.00 0.12%
  • bnbBNB (BNB) $ 317.72 4%
  • xrpXRP (XRP) $ 0.415098 1.37%
  • binance-usdBinance USD (BUSD) $ 1.00 0.02%
  • cardanoCardano (ADA) $ 0.396493 4.21%
  • dogecoinDogecoin (DOGE) $ 0.090318 2.63%
  • matic-networkPolygon (MATIC) $ 1.17 3.49%
  • okbOKB (OKB) $ 39.48 0.51%
  • solanaSolana (SOL) $ 26.12 9.33%
  • staked-etherLido Staked Ether (STETH) $ 1,640.52 4.47%
  • polkadotPolkadot (DOT) $ 6.62 3.94%
  • shiba-inuShiba Inu (SHIB) $ 0.000012 2.62%
  • litecoinLitecoin (LTC) $ 94.83 3.16%
  • avalanche-2Avalanche (AVAX) $ 20.89 2.5%
  • tronTRON (TRX) $ 0.063904 1.14%
  • uniswapUniswap (UNI) $ 6.94 5.3%
  • daiDai (DAI) $ 1.00 0.05%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 23,691.00 2.94%
  • cosmosCosmos Hub (ATOM) $ 13.86 5.78%
  • the-open-networkToncoin (TON) $ 2.47 1.31%
  • chainlinkChainlink (LINK) $ 7.38 2.93%
  • leo-tokenLEO Token (LEO) $ 3.70 2.44%
  • moneroMonero (XMR) $ 186.47 1.27%
  • ethereum-classicEthereum Classic (ETC) $ 23.06 5.83%
  • aptosAptos (APT) $ 18.24 3.65%
  • bitcoin-cashBitcoin Cash (BCH) $ 135.96 3.06%
  • stellarStellar (XLM) $ 0.094463 1.88%
  • apecoinApeCoin (APE) $ 6.29 5.13%
  • quant-networkQuant (QNT) $ 151.74 1.64%
  • nearNEAR Protocol (NEAR) $ 2.56 4.52%
  • crypto-com-chainCronos (CRO) $ 0.082462 1.83%
  • filecoinFilecoin (FIL) $ 5.48 3.37%
  • lido-daoLido DAO (LDO) $ 2.31 3.95%
  • algorandAlgorand (ALGO) $ 0.260907 1.91%
  • vechainVeChain (VET) $ 0.024587 2.21%
  • internet-computerInternet Computer (ICP) $ 6.21 2.05%
  • hedera-hashgraphHedera (HBAR) $ 0.069667 3.9%
  • decentralandDecentraland (MANA) $ 0.801168 16.38%
  • axie-infinityAxie Infinity (AXS) $ 12.26 8.2%
  • the-sandboxThe Sandbox (SAND) $ 0.795608 8.92%
  • aaveAave (AAVE) $ 87.65 4.49%
  • fantomFantom (FTM) $ 0.487733 8.83%
  • eosEOS (EOS) $ 1.12 2.5%
  • flowFlow (FLOW) $ 1.11 5.06%
  • elrond-erd-2MultiversX (EGLD) $ 45.31 2.29%
  • theta-tokenTheta Network (THETA) $ 1.11 4.25%
  • tezosTezos (XTZ) $ 1.16 5.6%