On December 2, the Securities and Exchange Commission announced charges against Ivars Auzins over a series of digital asset-related investment schemes that the SEC is calling fraudulent.
The SEC highlighted a 2018 initial coin offering for a token called Denaro, for which Auzins’ allegedly gathered $11 million worth of investments before the project disappeared.
Another scheme, Innovamine, allegedly promised investors the opportunity to mine crypto using cloud computing. Auzins was accused of collecting over $7 million for Innovamine before disappearing with investors’ money.
The SEC tallied another six similar schemes, featuring a network of aliases and short-lived UK corporate registrations that Auzins used to lend legitimacy to the projects.
The commission is asking the court of the Eastern District of New York to keep Auzins, a Latvian national, from participating in any future securities offerings. They are also seeking a return of the funds that Auzins has already gained from investors.
Auzins is only the latest in a long string of ICO operators from the 2017-2018 boom who the SEC has targeted.
Source: The Block Crypto
_______________________
About Skyhigh.Vip
Skyhigh.Vip is a global institutional investor with a vast interest in Arts / Construction / Education / Business Services / E-Sports and various other growth industries.
Several of its popular portfolios include GO Chambers which is the world’s largest business chamber listing provider with over 30,000 active chambers as its members.
Flexgigzz is the Asia leading marketplace for freelancers service and together with SOHO Learning Hub which is an online platform for short courses and both of them aims to be the number one provider in Asia. For growth industries such as E-Sport Authority which is dedicated to providing independent media coverage to all E-Sport News related from around the world and for the art world, there is Atelier Auction which is an investable art auctioneer and being in the art scene for decades.
