Modern Times - SEC Moves to Freeze Assets of Alleged $12M Crypto Investment Scam

Polsinelli
Contact

Polsinelli

The U.S. Securities Exchange Commission (SEC) is asking a court to freeze the assets of a cryptocurrency mining and multilevel marketing scheme that allegedly defrauded investors of $12 million. The SEC's complaint alleges the Modern Money Team sold interests in a purported cryptocurrency mining operation to nearly two hundred investors. The SEC claims the defendants misappropriated investor funds for personal use and to make Ponzi-like distributions to earlier investors.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

© Polsinelli

Written by:

Polsinelli
Contact
more
less

PUBLISH YOUR CONTENT ON JD SUPRA NOW

  • Increased visibility
  • Actionable analytics
  • Ongoing guidance

Polsinelli on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide