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SEC Charges Unicoin and Executives in $100 Million Fraud Case
SEC Charges Unicoin and Executives in $100 Million Fraud Case
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The U.S. Securities and Exchange Commission has filed a lawsuit against crypto platform Unicoin and three of its top executives, alleging a massive securities fraud scheme. The complaint, lodged in the Southern District of New York, accuses the defendants of misleading more than 5,000 investors through false claims about token-linked "rights certificates."
Regulators claim the project raised over $100 million while violating securities laws. CEO Alex Konanykhin and other named executives allegedly misrepresented the nature of Unicoin’s offerings. The case underscores the SEC’s continued scrutiny of cryptocurrency projects that may qualify as unregistered securities.
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