SEC Files Charges Against Crypto Platform Unicoin

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The US Securities and Exchange Commission has charged Unicoin and three top executives in New York with allegedly misguiding investors, raising over $100 million through deceptive crypto asset claims and company stock offerings.

In the complaint filed in the Southern District of New York, the SEC accused Unicoin CEO Alex Konanykhin, board member Silvina Moschini, and former Chief Investment Officer Alex Dominguez of promoting misleading “rights certificates” linked to Unicoin tokens.

The complaint also involves general counsel Richard Devlin, accused of providing false information in private placement memoranda. Without admitting guilt, Devlin has agreed to a $37,500 penalty and a permanent injunction.

Mark Cave, associate director in the SEC’s Division of Enforcement, stated, “Unicoin and its executives allegedly misled thousands of investors with false promises that its tokens would be backed by substantial real-world assets, including international real estate, which were actually worth much less.”