3 individuals charged with covering up $30 million ICO Fraud by SEC LeapRate

SEC acts against 11 firms neglecting electronic communications

June 16, 2021 BY Steffy Bogdanova

3 individuals charged with covering up $30 million ICO Fraud by SEC

On top of the concealment charge, authorities have also accused the three new defendants of being well aware of Manor’s background in criminal activities. The latest SEC press release stated: To conceal Manor’s involvement and his history from investors, they used Manor’s chosen alias ‘Shaun MacDonald’ in ICO related-communications and helped create and distribute materially…

March 22, 2019 BY Valentina Kirilova

AriseBank in a $4.2 million ICO scam - CEO pleads guilty

AriseBank is a cryptocurrency bank that found itself amidst a $4.2 million ICO scam. The former CEO of the institution pleaded guilty to deceiving investors of around $4.2 million. The information comes from the US news agency Dallas News. Jared Rice Sr. is essentially the founder of AriseBank. What the founder admitted in federal court…

The world’s largest crypto IPO postponed

January 25, 2019 BY Valentina Kirilova

Is Apollo a crypto scam in the making? Online community believes it is

Initial Coin Offerings (ICOs) have raised over $10 billion over the past two years, but reports indicate that nearly 80% of these fledgling startups will fail, either due to poor business planning, incompetent management teams, or the fact that they were an outright scam to begin with, plain and simple. The prevalence of shady behavior…

January 22, 2019 BY Valentina Kirilova

UK’s FCA is stepping up investigations of cryptocurency companies

In many respects, the world of cryptocurrencies is very reminiscent of the evolution of retail forex trading in the nineties. At that time, every aspect of trading in this new genre was an innovative adaptation of existing technologies, but with an entirely different look and feel. Regulatory agencies around the globe were unprepared for what…

January 15, 2019 BY Valentina Kirilova

$70 million ICO scam in India could torpedo efforts to lift local crypto ban

Recent news headlines report that police have made another arrest in connection with a $70 million Initial Coin Offering (ICO) scam in India. This scandal is unfolding at the same time that an inter-ministerial committee reviews current policy directions related to cryptocurrencies. Currently, a quasi-ban exists that is being administered by the Reserve Bank of…

May 30, 2018 BY LeapRate Staff

SEC takes action to halt Titanium Blockchain ICO fraud

The U.S. Securities and Exchange Commission has announced that it has obtained a court order halting an ongoing fraud involving an initial coin offering (ICO) that raised as much as $21 million from investors in and outside the U.S. The court also approved an emergency asset freeze and the appointment of a receiver for Titanium Blockchain…

January 31, 2018 BY Valentina Kirilova

SEC halts alleged Initial Coin Offering scam

The Securities and Exchange Commission (SEC) informed that it has obtained a court order halting an allegedly fraudulent initial coin offering (ICO) that targeted retail investors to fund what it claimed to be the world’s first “decentralized bank.” According to the SEC’s complaint, filed in federal district court in Dallas on Jan. 25 and unsealed…

January 30, 2018 BY LeapRate Staff

AriseBank crypto trading ICO halted amid charges of fraud and criminal background of key executives

It is very much a buyer-beware world in the game of ICOs. The U.S. Securities and Exchange Commission (SEC) announced that it has obtained a court order halting an allegedly fraudulent initial coin offering (ICO) that targeted retail investors to fund what it claimed to be the world’s first “decentralized bank.” According to the SEC’s…

October 01, 2017 BY LeapRate Staff

Maksim Zaslavskiy, REcoin Group Foundation and DRC World charged in Initial Coin Offering (ICO) fraud

The U.S. Securities and Exchange Commission today charged a businessman and his two companies with defrauding investors in a pair of so-called initial coin offerings (ICOs) purportedly backed by investments in real estate and diamonds. The SEC alleges that Maksim Zaslavskiy and his companies have been selling unregistered securities, and the digital tokens or coins…

Tag: ICO scam