SEC files complaint against operator of ‘unregistered’ $33M Crowd Machine ICO By Cointelegraph
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The United States Securities and Exchange Commission has filed a suit against Australian Craig Derel Sproule for the allegedly “fraudulent and unregistered” sale “of digital asset securities” in an initial coin offering (ICO) his company had conducted in 2018.
The SEC alleges in a Thursday complaint that Sproule’s company, Metavine Inc., which operated the ICO for Crowd Machine (CMCT) from January to April 2018, sold unregistered securities, never made the project operational and “materially misrepresented how it intended to use ICO proceeds.”
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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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The United States Securities and Exchange Commission has filed a suit against Australian Craig Derel Sproule for the allegedly “fraudulent and unregistered” sale “of digital asset securities” in an initial coin offering (ICO) his company had conducted in 2018.
The SEC alleges in a Thursday complaint that Sproule’s company, Metavine Inc., which operated the ICO for Crowd Machine (CMCT) from January to April 2018, sold unregistered securities, never made the project operational and “materially misrepresented how it intended to use ICO proceeds.”
Continue Reading on Coin Telegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.