The US Securities and Exchange Commission charged three individuals with fraudulent initial coin offering. The fraudulent company Bitcoiin2Gen extorted more than $11 mln from retail investors. The ICO, which took place in 2018, brought in actor Steven SEAGAL as the brand ambassador for the new token.
Kristijan Krstic, founder of Start Options and Bitcoiin2Gen, John DeMarr, the main promoter of these companies in the United States, and Robin Enos are accused of violating anti-fraud and registration requirements in connection with offering securities to investors.
Fraudulent promotional materials promised that B2G tokens would be delivered to the Ethereum blockchain, and the investment would help develop a mineable coin and trade it on its own digital asset trading platform in April 2018.
Image: Trends Wide