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SEC Charges Unicoin Executives in $100 Million Crypto Fraud Scheme
SEC Charges Unicoin Executives in $100 Million Crypto Fraud Scheme
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The U.S. Securities and Exchange Commission has filed charges against Unicoin and its executives, alleging a fraudulent scheme that raised over $100 million from investors. The complaint, filed in the Southern District of New York, accuses CEO Alex Konanykhin and senior executives Silvina Moschini and Alex Dominguez of misleading thousands with false claims about asset-backed tokens.
Investors were promised security through real estate and equity assets, but the SEC asserts these claims were illusory. The case underscores regulatory scrutiny in the crypto space as authorities crack down on deceptive fundraising practices.
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