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SEC Charges Unicoin and Executives Over $100 Million Fraud Allegations
SEC Charges Unicoin and Executives Over $100 Million Fraud Allegations
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The U.S. Securities and Exchange Commission has filed a complaint against Unicoin and three of its top executives, accusing them of orchestrating a $100 million securities fraud. The defendants—CEO Alex Konanykhin, former president Silvina Moschini, and former chief investment officer Alex Dominguez—allegedly inflated asset valuations and misled investors by implying federal endorsement.
"Unicoin’s promises were built on fiction," said Mark Cave of the SEC’s Division of Enforcement. The company claimed its tokens would be backed by international real estate holdings, but investigators found the assets were grossly overvalued. This case highlights the regulatory risks facing unbacked crypto projects making exaggerated claims.
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