SEC Charges Unicoin and Executives With $100 Million Fraud (1)

The US Securities and Exchange Commission has charged New York-based Unicoin Inc. and its executives with orchestrating a $100 million fraud.

The regulator charged the company and executives Alex Konanykhin, Silvina Moschini and Alex Dominguez for false and misleading statements related to an offering of certificates promising rights to receive cryptoassets and stock, according to a Tuesday statement.

“We allege that Unicoin and its executives exploited thousands of investors with fictitious promises that its tokens, when issued, would be backed by real-world assets including an international portfolio of valuable real estate holdings,” said Mark Cave, associate director in the ...