SEC indicts three individuals in connection with a fraudulent ICO of $30 million
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Answer SEC indicts three individuals in connection with a fraudulent ICO of $30 million
In the Arab Bitcoin, we present the news related to fraud and theft in the field of encrypted digital currencies, so that the Arab user takes a lesson from it and discovers how it proceeds to stay away from it and its evils.
announced The US Securities and Exchange Commission (SEC) said Tuesday that three individuals have been charged in a $30 million Initial Coin Offering (ICO) fraud.
According to the press release, the following defendants are:
- Ali Asif Hamid is from Oakville, Ontario, Canada.
- Michael Getz of Idaho Falls, Idaho.
- Kristen Page from Brooklyn, New York.
They were part of the scheme led by Boaz Manor, now indicted, and his partner, Edith Pardo.
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The complaint was filed with the US District Court of New Jersey.
According to the documents, the defendants had leadership roles in the ICO scam, which helped hide the Boaz Manor website within the fraudulent scheme.
The authorities accused these three individuals of having a background in “Manor” and knowing his involvement. The statement of the lawsuit stated the following:
To conceal Manor’s involvement and history with investors, they used Manor’s chosen alias, Sean MacDonald, in fraudulent digital currency communications and helped create and distribute misleading ICO marketing materials.
One of these defendants seeks settlement:
The Securities and Exchange Commission accused Hamid, Getz and Page of violating the Securities Act, and aiding and abetting its violation.
Although he did not accept or deny the SEC’s allegations, Page agreed to a settlement arrangement, which is still subject to court approval and, if approved, will pay a $192,000 penalty.
There are many fraudulent operations related to ICO offers, although their severity has decreased recently, but this did not prevent their re-formation and re-emergence in different ways, so care is a must and not to invest until after consultation and deep research.
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