Building showing the crest of the Securities and Exchange Commission
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The Securities and Exchange Commission (SEC) announced Wednesday that it is suing ICO/STO service provider ICOBox and its founder, Nikolay Evdokimov, for conducting an illegal $14 million securities offering.

According to the complaint, ICOBox conducted a $14.6 million ICO in 2017 to over 2,000 investors and that these tokens are “virtually worthless.” Adding to the issue, the SEC claims that ICOBox has been acting as an unregistered securities broker by helping clients raise more than $650 million in token sales.

“By ignoring the registration requirements of the federal securities laws, ICOBox and Evdokimov exposed investors to investments, which are now virtually worthless, without providing information that is critical to making informed investment decisions,” said Michele Wein Layne, Regional Director of the Los Angeles Regional Office.

The charges against ICOBOx and Evodkimov are specifically for violating the registration requirements of the federal securities laws and seek injunctive relief, disgorgement with prejudgment interest and civil money penalties.

More: SEC Charges ICO Incubator and Founder for Unregistered Offering and Unregistered Broker Activity
Interesting: Lawsuit Claims Blue Ocean Capital Duped Investor Into Buying $2M Worth of MCash

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Voyager

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