SEC takes measures against B2B Opporty market for fraudulent tokens sale

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The US Stock Exchange and Securities Commission (SEC) It continues to take serious measures against those companies that have committed fraud with cryptocurrencies.

Yesterday made his complaint public against the station of Initial Cryptocurrency Offers (ICO), Opporty, a B2B market (business to business) based on Blockchain.

In the claim document, presented yesterday, the SD alleges that between September 2017 and October 2018, the company orPporty International, Inc. and its founder and only owner Sergii Grybniak carried out A “fraudulent” sale of digital assets called OPP tokens. In the sale, they managed to raise around USD $ 600,000 of approximately 200 investors in the United States and in other places.

However, neither the company nor its owner registered the tokens in the SEC, which alleges that the ICO constituted an offer of values.

As reported COINDESKthe Sec He declares that Grybniak and his company cheated investors for the sale, “making false statements and material omissions to investors and participating in other deceptive conduct during the offer ”.

The SEC document also explains:

Grybniak commercialized the ICO of Opporty as a means to raise funds to develop “Ecosystem based on blockchain for small businesses and its clients” mainly in the United States. In particular, Grybniak launched the Opporty platform as a place where small businesses could list their services and products, use Blockchain intelligent contracts to hold agreements with customers and make commercial transactions with OPP tokens.

SEC denounces false verified suppliers of Opporty

Likewise, the document states that Opporty falsely promoted the platform since he said he had more than 6,000 “Verified suppliers” ready to use the platform. “In fact, the overwhelming majority of these alleged verified suppliers had not expressed such provision and were not contributing content to the Opporty platform.”according to the complaint.

Supposedly, Opporty He also claimed to have 17 million small US businesses in their catalog, which suggests investors that all these companies were really eligible to do business on the platform. In this regard, the SD says in its document:

The company had simply bought a database from individual entities and profiles. This was not revealed to investors in the Token.

If the company had registered the sale with the SEC, it would have meant that investors could have received “Enough and precise information about the ICO”, The regulator says.

Likewise, Coindesk reports that the tokens of Opporty They were sold through purchase agreements called “Simple agreements for future tokens” (SAFT), a framework that was once promoted as a way to avoid such regulatory actions. As such, “investment contracts constituted and, therefore, values ​​”, Said the SEC.

According to the document, with the ICO, Opporty and its owner violated the 1933 Securities Law and the 1934 Stock Exchange Law, among others.

The Sec aspires that the company and its owner return the “Gains obtained illegally“Of the ICO, they refrain from future value emissions and pay civil sanctions. In addition, Grybniak, resident of New York, will not be able to act as director of a public company, if the Sec Win your arguments.

The Sec It suggests that it is the Court of the Eastern District of New York that attends the case.

The Securities Commission began a very active year. Days published a statement on the risks of IEO (initial exchange offers).

If you want to read the entire document in English click here.

Sources: Document of the SEC and Coindesk

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