The US Securities and Exchange Commission (SEC) has charged the cryptocurrency platform Unicoin and three of its executives with fraud, alleging they raised $100 million from investors through misleading claims about the company's crypto assets. This enforcement action, announced on May 20, involves Unicoin's CEO Alex Konanykhin, board member Silvina Moschini, and former investment chief Alex Dominguez. The SEC accused them of deceiving investors by asserting that Unicoin tokens would be backed by real-world assets, including valuable real estate. However, the SEC suggested that the promised real estate portfolio was significantly overvalued and that most of the sales of rights certificates were fictitious. The complaint has been filed in a Manhattan federal court, calling for permanent injunctions against the accused and restitution of any illicit gains.

Source 🔗