Unicoin and their former Argentine CEO face the SEC for cryptocurrency fraud

By Hannah Pérez

The US Stock Regulator. Uu. Suegoin already sued its executives, including former CEO, Silvina Moschini, for allegedly defrauding investors for more than USD $ 100 million with real estate tokens without support.

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The US stock regulator sued only its executives.
Argentina Silvina Moschini, former CEO of Unicoin, appointed in the demand.
Accused of defrauding investors for USD $ 100 million with real estate tokens without support.
Unicoin and their businessmen rejected the accusations.

The United States Stock Regulators still carry out battles against fraudulent cryptocurrency projects despite their renewed progressive approach to the sector.

An Argentine businesswoman is the last to fall under the pressure of the Bag and Values Commission (SEC) of the USA for having led a cryptocurrency company that allegedly defrauded thousands of investors for millions of dollars.

On Tuesday night, the SEC demanded the company UNICOIN and three executives for fraud positions, claiming that the company raised more than USD $ 100 million in Tokens digital that were not actually backed by real estate as their promoters assured.

Argentina Silvina Moschini, former CEO of UNICOINwas appointed in the lawsuit together with the CEO Alexander Konanykhin, the senior vice president and general advisor, Richard Devlin, and the former Investment Director and Investor Relations officer, Alejandro Domínguez, for accusations related to violations of the Securities Laws.

Unicoin is sued by US regulator.

In his lawsuit, the US federal agency said executives cheated investors with statements and promises about alleged investments and assets that “They were illusory”

“We maintain that Unicoin and its executives thousands of investors exploited with fictional promises that their Tokensonce issued, they would be supported by real assets, including an international portfolio of valuable real estate properties”, Says a Declaration of the SEC on May 21.

UNICOINlaunched in February 2022, promoted a homonymous cryptocurrency supposedly supported by real assets, such as real estate and participations in emerging high -growth companies.

According to the Declaration of the SEC, the company had announced property acquisitions in Argentina, Thailand, Antigupotential yields of 9,000,000%“Citing the growth of Bitcoin.

“However, real estate assets were actually worth a fraction of what the company stated, and the majority of sales of the company’s rights were illusory”, Read in the regulator’s claim.

The Sec explained that UNICOIN He had exaggerated his numbers and that most of the alleged multimillionaire transactions mentioned above “They never closed” and “The real combined value of the four properties was no more than USD $ 300 million“

Sec assumes “rational” approach to cryptocurrencies

Since Donald Trump assumed the presidency of the United States, the SEC has withdrawn more than a dozen cases of compliance against high -profile cryptocurrency organizations, including demands against exchanges Coinbase and Binance.

The incoming president of the SEC, Paul Atkins, selected by Trump, recently said that a main priority will be to provide a firm regulatory base for digital assets through an approach. ”rational, consistent and based on principles“

The regulator’s efforts to generate new and clear rules frames for cryptocurrencies distance themselves from the strict and hostile approach to Gary Gensler’s previous management, who during his time in charge of the SEC severely rebuked companies and entrepreneurs of the cryptocurrency industry under the interpretation that most of these assets qualify as values.

UNICOIN He received a Wells notice from the SEC last December, when Gensler still led, as he remembers COINDESK. This notice informs the company that the regulator has an ongoing investigation and will possibly present charges for securities fraud.

Unicoin executives reject accusations

However, Unicon executives refused to appear before the SEC. His CEO sent a letter to the shareholders of UNICOINinforming them that the company had rejected the SEC attempt to resolve the charges, rejecting what it described as an “ultimatum” to attend a negotiation meeting of agreements before April 18, according to coverage.

“The accusations of the SC are blatantly false”said Konanykhin in a statement on Wednesday. “I intend to demonstrate in court that constitute another case of serious abuse of power“

Moschini also rejected the accusations. In response to the Argentine media La Nación, the businesswoman said that both she and the executive team, as their investors want “to get to the bottom of this and expose those who use government resources [de Estados Unidos] For a political war“, Who did not specify what it would be, but added that with that alleged offensive they would have caused him”millions“In losses to your investors, according to the report.

Hannah Estefanía Pérez / Diariobitcoin

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