The U.S. Securities and Exchange Commission announced Tuesday evening that it has civilly charged New York City-based Unicoin Inc. and three of its top executives for allegedly making false and misleading statements in an offering of certificates that purportedly conveyed rights to receive crypto assets and an offering of its common stock.
Mark Cave, an associate director in the SEC’s division of enforcement, alleged that Unicoin and CEO Alex Konanykhin, ex-president Silvina Moschini and ex-CIO Alex Dominguez exploited thousands of investors with fictitious promises that its Unicoin tokens, when issued, would be backed by real-world assets including an international portfolio of valuable real estate holdings.