The American Securities and the Stock Exchange Commission (SEC) filed a lawsuit against fraud against the top executives of the company and the company’s senior executives. In the case of the Federal Court of Manhattan, it was claimed that Unicoin had fooled more than 5,000 investors with fake promises and collected more than $ 100 million. The SEC said that the company both acted against regulations and systematically misleading investors. The case showed once again that transparency and regulatory audit in the crypto currency sector became increasingly important.
Sales of $ 100 million supported by fake statements
According to the SEC’s claim, Unicoin executives gave investors unrealistic information about the company’s financial situation and the crypto currency products they offer. The company’s CEO Alex Konanykhin, Silvina Moschini, Board Member Silvina Moschini, former Investment Director Alex Dominguez and Legal Advisor Richard Devlin made false statements especially during the sales of Token since 2022.
The company sold certificates to investors who have entitled to tokens to be issued in the future. It was said that the value of these tokens was guaranteed by the wide real estate portfolio behind it. However, SEC argues that this portfolio is either completely imaginary or well below its value. In addition, it was stated that the company gave investors the impression that their products are under regulation approval, whereas there was no official record.
SEC, the amount of funds in the records claimed that the company claims that it is not $ 3 billion, but about 100 million dollars. This difference raises a big question mark about the information provided to investors. The findings in the case file indicate that Unicoin’s systematically misleading investors.
Tension between SEC and Unicoin climbs
In December 2024, SEC announced that the company sent a WELL notification, but Unicoin was not willing to compromise. The company did not make an official statement on the issue, while journalist Eleanor Terrett quoted the negotiations between the parties failed. CEO Konanykhin described SEC’s demands as “unacceptable ve and announced that they would make defenses in court.
Following this development, the information that SEC sent new subpoena to people affiliated to the company was shared. Unicoin said that he considered these initiatives as “retaliation .. The fact that the SEC does not make an additional explanation open to the public suggests that more complex processes are functioning behind the scenes.
Experts, such cases in the crypto currency sector in the investor confidence in the crypto -money sector, he says. The Unicoin example shows that investors should pay attention not only to promised guarantees, but also to regulation approvals and the transparency of the company. It is closely monitored how the company and its executives will follow in the court process and to what extent the SEC’s claims will be proved.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
