{"id":14990,"date":"2021-12-04T23:54:15","date_gmt":"2021-12-04T23:54:15","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/us-sec-charges-man-with-defrauding-crypto-investors-in-two-digital-asset-securities-offerings\/"},"modified":"2021-12-04T23:54:15","modified_gmt":"2021-12-04T23:54:15","slug":"us-sec-charges-man-with-defrauding-crypto-investors-in-two-digital-asset-securities-offerings","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/us-sec-charges-man-with-defrauding-crypto-investors-in-two-digital-asset-securities-offerings\/","title":{"rendered":"US SEC Charges Man With Defrauding Crypto Investors in Two Digital Asset Securities Offerings"},"content":{"rendered":"

The U.S. Securities and Exchange Commission (SEC) has charged a citizen of Latvia with defrauding investors in two crypto offerings. The fraudster \u201cused fake names, fictitious entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised.\u201d<\/strong><\/p>\n

Two Fraudulent Crypto Schemes<\/h2>\n

The SEC announced Thursday that it has \u201ccharged a Latvian citizen with defrauding hundreds of retail investors out of at least $7 million through two separate fraudulent digital asset securities offerings.\u201d<\/p>\n

Noting that Ivars Auzins defrauded U.S. and foreign investors, the securities watchdog explained:<\/p>\n

Auzins allegedly used fake names, fictitious entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised.<\/p>\n

His first scheme ran from January through March 2018. \u201cAuzins fraudulently offered and sold unregistered digital tokens as part of an ICO [initial coin offering] of Denaro, a purported multi-currency debit card platform,\u201d the SEC detailed.<\/p>\n

The complaint alleges that \u201call of the claimed products or services being offered were fictitious, including the relationship with the credit card issuer,\u201d noting that \u201cAuzins misappropriated all of the ICO\u2019s proceeds.\u201d<\/p>\n

His second scheme ran from April through July 2019. \u201cAuzins fraudulently offered the unregistered securities of Innovamine, which purportedly offered a cloud mining program,\u201d the SEC described, adding that he \u201cmisappropriated nearly all of the funds raised in the offering.\u201d<\/p>\n

The securities regulator detailed:<\/p>\n

As we allege, Auzins was engaged in a brazen scheme to defraud retail investors under the guise of profitable digital asset opportunities.<\/p>\n

The Latvian citizen is charged with \u201cviolating the antifraud and registration provisions of the federal securities laws.\u201d The SEC \u201cseeks permanent injunctions, including conduct-based injunctions, disgorgement plus prejudgment interest, civil penalties, and an officer-and-director bar against him.\u201d<\/p>\n

What do you think about this case? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, crypto offerings, defraud investors, fraudulent scheme, ICO, initial coin offering, SEC, sec crypto, sec crypto fraud, sec cryptocurrencies, sec cryptocurrency, securities offerings<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Securities and Exchange Commission (SEC) has charged a citizen of Latvia with defrauding investors in two crypto offerings. The fraudster \u201cused fake names, fictitious entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised.\u201d Two Fraudulent Crypto Schemes The SEC announced Thursday that it…<\/p>\n","protected":false},"author":0,"featured_media":14991,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14990"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14990"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14991"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}