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The U.S. Securities and Exchange Commission (SEC) has charged the masterminds behind Novatech with running a fraudulent $650 million crypto scheme. Novatech allegedly operated as a multi-level marketing and crypto asset investment program, where most investor funds were misappropriated to pay existing investors and promoters. SEC Charges Novatech Ltd. in $650 Million Crypto Fraud Case … Read more
The SEC has retracted its request for a court ruling to classify tokens such as Solana, Cardano, Polygon and others as securities. Go to Source
The SEC asserts that the defendants unlawfully gleaned more than $700,000 through a wash-trading scheme that targeted exchanges offering market maker rebates. Go to Source Powered by WPeMatico
The SEC alleged that some of the proceeds from the offering were used to give the founder a bonus of $1 million and a loan of $2.5 million which he used to purchase a house in the Cayman Islands. Go to Source Powered by WPeMatico