The U.S. Securities and Exchange Commission (SEC) has filed serious charges against Unicoin Inc., a New York-based company, and three of its top executives. The agency claims the company deceived more than 5,000 investors by selling so-called “Rights Certificates” that were supposed to later convert into Unicoin crypto tokens.

🏦 False Claims About Billions in Real Estate

According to the complaint, Unicoin enticed investors with exaggerated claims—such as promises that future tokens would be backed by billions in real estate assets and pre-IPO equity.

In reality, the company held only a fraction of the assets it advertised, and much of the real estate it promoted was largely fictional.

📣 Aggressive Marketing – From Airports to Taxi Ads

Unicoin presented itself as a pioneer in digital investing.

Its promotional campaign included:

🔹 Airport billboards

🔹 Ads in thousands of New York taxis

🔹 TV commercials and social media campaigns

Investors were convinced they were buying a safe next-gen digital investment, with certificates redeemable 1:1 for Unicoin tokens.

🔍 What the SEC Says

According to SEC Deputy Director of Enforcement Mark Cave:

“Unicoin and its leadership exploited thousands of investors with fictional promises that its tokens would be backed by real assets, including a global portfolio of high-value real estate.”

💼 Inflated Numbers, No Real Registration

Investigators identified three major misrepresentations:

  1. False asset backing – claims of billion-dollar reserves were fabricated

  2. Exaggerated sales – the company claimed over $3 billion in sales, but actually raised just $110 million

  3. Fake regulatory legitimacy – tokens and certificates were advertised as “SEC registered,” though no such registration existed


🧾 CEO Sold His Own Certificates

Unicoin’s CEO, Alex Konanykhin, allegedly sold nearly 38 million of his own certificates, often at a discount.

Also charged: former president Silvina Moschini and former CIO Alex Dominguez.

The SEC is requesting:

🔻 permanent bans on serving as executives in publicly traded firms

🔻 the return of unlawfully obtained profits

🔻 civil penalties for both individuals and the company

⚖️ Company Lawyer Settles and Pays Fine

The lawsuit also names Richard Devlin, Unicoin’s former general counsel, accusing him of repeating false claims in investor materials.

Without admitting or denying guilt, Devlin agreed to settle—he will pay a $37,500 civil penalty and is permanently barred from certain activities.

Summary:

👉 SEC accuses Unicoin and its leaders of $100M fraud

👉 Investors misled by promises of asset-backed tokens and SEC registration

👉 Executives face bans, restitution, and fines

👉 A harsh reminder of how digital hype can lead to very real legal consequences




#SEC , #CryptoFraud , #Cryptoscam , #CryptoSecurity , #CryptoNewss

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