Subscribe to Our Newsletter
Saturday July 02, 2022
Bitcoin (BTC) $19,186.30   Ether (ETH) $1,044.66
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
No Result
View All Result
Easily Swap USDT (TRC20) & More
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
CryptoNinjas
Home Regulation

SEC charges ICOBox and its founder for unregistered $14 million offering

Published by CryptoNinjas.net
09/18/2019
SEC charges ICOBox and its founder for unregistered $14 million offering

Today, the Securities and Exchange Commission (SEC) in the U.S. charged ICOBox and its founder Nikolay Evdokimov for conducting an illegal $14 million securities offering of ICOBox’s digital tokens (ICOS) and for acting as unregistered brokers for other digital asset offerings.

According to the SEC’s complaint, ICOBox raised funds in 2017 to develop a platform for initial coin offerings by selling, in an unregistered offering, roughly $14.6 million of tokens to over 2,000 investors.

SEC Complaint

The complaint alleges that defendants claimed the tokens would increase in value upon trading and that ICOS token holders would be able to swap them at a discount for other tokens promoted on ICOBox.

According to the complaint, the ICOS tokens are virtually worthless. The complaint further alleges that ICOBox failed to register as a broker but acted as one by facilitating initial coin offerings that raised more than $650 million for dozens of clients.

“By ignoring the registration requirements of the federal securities laws, ICOBox and Evdokimov exposed investors to investments, which are now virtually worthless, without providing information that is critical to making informed investment decisions.”
– Michele Wein Layne, Regional Director of the Los Angeles Regional Office

The SEC’s complaint charges ICOBox and Evdokimov with violating the registration requirements of the federal securities laws and seeks injunctive relief, disgorgement with prejudgment interest, and civil money penalties.

The SEC’s investigation was conducted by Brent W. Wilner and was supervised by Victoria A. Levin, Alka N. Patel, and Ms. Layne of the Los Angeles Regional Office.  The litigation is being conducted by Amy J. Longo of the Los Angeles Regional Office.

In the last month, the SEC settled charges with Russian platform ICO Rating for failure to disclose it was touting, and also settled charges with the Dallas-based founders of a digital token called Bitqy for defrauding investors.

44
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

SEC seeks to halt Telegram’s GRAM token from distribution

10/11/2019
SEC seeks to halt Telegram’s GRAM token from distribution

The Securities and Exchange Commission, today announced that it has filed an emergency action and obtained a temporary restraining order against two offshore entities conducting an alleged unregistered, ongoing token offering in the U.S....

Read more

SEC settles with founders of Bitqyck for defrauding investors on crypto offering

08/29/2019
SEC settles with founders of Bitqyck for defrauding investors on crypto offering

The U.S. Securities and Exchange Commission today announced settled charges with Bitqyck Inc. and its founders, who allegedly defrauded investors in securities offerings of two digital assets, Bitqy and BitqyM, and operated an unregistered...

Read more

ICO Rating settles SEC charges of failing to disclose it was paid to tout

08/21/2019
ICO Rating sec

The Securities and Exchange Commission in the U.S. announced on August 20th, that Russian entity ICO Rating has agreed to pay $268,998 to settle charges that it failed to disclose payments received from issuers...

Read more

Two ICO issuers settle SEC charges, agree to register tokens as securities

11/16/2018
Two ICO issuers settle SEC charges, agree to register tokens as securities

The Securities and Exchange Commission (SEC) today announced settled charges against two companies that sold digital tokens in initial coin offerings (ICOs). These are the commission’s first cases imposing civil penalties solely for ICO...

Read more
Load More

Discussion about this post

Where to Exchange

Crypto services suite in Spanish Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
America's first regulated bitcoin exchange Visit
  • Trending
  • Latest
Cardano asset trading platform Tent integrates COTI stablecoin DJed

Cardano asset trading platform Tent integrates COTI stablecoin Djed

06/29/2022
vlists new USDT-based spot markets in DAI, ADA, AVAX,  LTC, FTT, LINK, and FTM

MoonXBT adds new USDT spot markets in DAI, ADA, AVAX,  LTC, FTT, LINK, and FTM

06/30/2022
Fintech services platform Colendi acquires enterprise blockchain company SETL

Fintech services platform Colendi acquires enterprise blockchain company SETL

06/27/2022
Router Protocol launches its modular cross-chain bridge: Voyager

Router Protocol launches its modular cross-chain bridge: Voyager

06/29/2022
vlists new USDT-based spot markets in DAI, ADA, AVAX,  LTC, FTT, LINK, and FTM

MoonXBT adds new USDT spot markets in DAI, ADA, AVAX,  LTC, FTT, LINK, and FTM

06/30/2022
Asian crypto technology solutions firms ChainUp and HS88 team up to grow market

Asian crypto technology solutions firms ChainUp and HS88 team up to grow market

06/30/2022
Societe Generale – FORGE selects METACO to manage blockchain asset capabilities

Societe Generale – FORGE selects METACO to manage blockchain asset capabilities

06/30/2022
Cardano asset trading platform Tent integrates COTI stablecoin DJed

Cardano asset trading platform Tent integrates COTI stablecoin Djed

06/29/2022
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy