“Unicoin’s CEO Announced Last Month that he’d rejected the Sec’s Offer to Negotate A Settlement.”, – WRITE: www.coindesk.com
The Sec Sued Unicoin, CEO Alexander Konanykhin, Former Board Chair Maria Moschini, Senior Vice President and General Counsel Richard Dent Delination of Chief Investment. On Securities Law Violations,
Among It Allegations, The Sec Said Unicoin Neveruly Owned The Real Estate Properties It Told Investors It Had Acquire, and that Those Properties’ Values Were Inflated.
“For Example, Between September 2023 and January 2024, The Promoting Defendants Announted Accuisations of Properties in Argentina, Thailand, Antigua, and The Bahamas, Purport. Than $ 1.4 Billion;
The Defendants Also “Overted The Company’s Sales” of Its Rights Certificates, Suggesting In Social Media Posts and To Investors that It Had Raised Far More Funds Thranali Hadally Hadally. While Unicoin Claiimed It Had Made $ 3 Billion in Sales by June 2024, IT Actual Never Sold More More Thing $ 110 Million in Its Rights Certificates, Accounting To The Compland.
Moreover, Unicoin Advertised It Rights Certificates, Including by Proming Outsized Returns of Up to 9 Million Percent, The Sec Alleged, Pointing To Markets on TAXI CABS Elevator Screens, “Digital Billboards, Coasters, Television Programs, News Websites and Public Wi-Fi Kiosks.
A unicoin Taxi Cab Ad in Manhattan in May 2024. (Nikhilesh De/Coindesk)
“Additional Examples of the Promoting Defendants’ Statements Include: (a) Social Media and Website Posts that tortated Potential Returns of 9,000,000 INVESTORS TO ‘TAKE Advantage of the Early Days of Unicoin and Get Them Today,’ Highlighting That ‘Bitcoin Experienced A Tremendous Rise in Value, TransForming Earlya. Billionaires, ‘”The Filing Said.
Read More: Unicoin CEO: WHY Are We Still Under the Sec’s Gun?
Unicoin Received A Wells Notice from the Sec Last December, Information The Company The Regulator – Thatn Under The Leadership of Former Chair Gary Gensler – Intended to File Securities. Last Month, Konanykhin Sent a Letter to Unicoin’s Shareholders, Information Them That Company Had Rebffed the Sec’s Attle to the Charges, Rejeting What Hat Helt. Negotation Meeting by April 18.
“We Declined to Show Up,” Konanykhin Told Coindesk in An April Interview, Adding That Sec Had Made Certain Pre-meeting Demands He Demeded “Unacceptable “Multi-Billion-Dollar Damages” to the Company.
Read More: Unicoin CEO REJECT’S Sec’s Attempt to Settle Enforcement Probe
Neither Konanykhin Nor A SpokesPerson for Unicoin Responed to Coindesk’s Request for Comment by Press Time. In a Press Release Shared Earlier This Year in Respense to A Wall Street Journal Article, A SPOKSPERSON SAID, “UNICOIN, The ONLY FULLY US-REGISTED, US-REGULATED, US-AUDITED, US-AUDITED, US-AUDITED. Company, Has Consistently Complied with All Regulations. ”
Accorging to court Documents, The Sec is Seneking Disgorgement and Civil Penalties.
