{"id":24146,"date":"2025-05-21T10:20:05","date_gmt":"2025-05-21T07:20:05","guid":{"rendered":"https:\/\/forklog.com\/en\/sec-accuses-unicoin-of-100-million-fraud\/"},"modified":"2025-05-21T10:20:05","modified_gmt":"2025-05-21T07:20:05","slug":"sec-accuses-unicoin-of-100-million-fraud","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sec-accuses-unicoin-of-100-million-fraud\/","title":{"rendered":"SEC Accuses Unicoin of $100 Million Fraud"},"content":{"rendered":"<p>The Securities and Exchange Commission (SEC) <a href=\"https:\/\/www.sec.gov\/newsroom\/press-releases\/2025-75\">charged<\/a> Unicoin and three of its executives with fraudulently offering certificates for its token and shares.<\/p>\n<p>The lawsuit names the following individuals:<\/p>\n<ul class=\"wp-block-list\">\n<li>Chairman and CEO Alex Konanykhin;<\/li>\n<li>former head and current board member Silvina Moschini;<\/li>\n<li>former Chief Investment Officer Alex Dominguez.<\/li>\n<\/ul>\n<p>According to the SEC, the company made unverified promises to &#8220;thousands of investors&#8221; that its future tokens would be backed by billions of dollars in real assets, including real estate and stakes in companies at the <span data-descr=\"initial public offering\" class=\"old_tooltip\">IPO<\/span> stage.<\/p>\n<p>The Commission&#8217;s statement claims that Unicoin asserted:<\/p>\n<ul class=\"wp-block-list\">\n<li>sales of certificates amounting to over $3 billion, while it raised no more than $110 million;<\/li>\n<li>registration of its products with the SEC, which was not true.<\/li>\n<\/ul>\n<p>The alleged fraud was promoted through a large-scale campaign, including advertisements in airports, on thousands of New York taxis, television, and social media. According to the Commission, this helped persuade over 5,000 investors to purchase Unicoin certificates.<\/p>\n<p>The regulator accused the defendants of violating anti-fraud provisions of federal law. Additional claims against the company and Konanykhin pertain to securities law regulations.<\/p>\n<p>The SEC seeks the return of ill-gotten gains, reimbursement of legal costs, and civil penalties.<\/p>\n<p>The lawsuit also accuses Unicoin&#8217;s legal counsel Richard Devlin of fraud. Without admitting or denying the allegations, he agreed to pay a $37,500 fine.<\/p>\n<p>In April, Konanykhin informed investors that <a href=\"https:\/\/forklog.com\/en\/news\/unicoin-rejects-secs-settlement-proposal\">the company rejected<\/a> an attempt by the SEC to negotiate terms to end the investigation, calling the terms &#8220;unacceptable.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities and Exchange Commission (SEC) charged Unicoin and three of its executives with fraudulently offering certificates for its token and shares. The lawsuit names the following individuals: Chairman and CEO Alex Konanykhin; former head and current board member Silvina Moschini; former Chief Investment Officer Alex Dominguez. According to the SEC, the company made unverified [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,128],"class_list":["post-24146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24146"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24145"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}