Unicoin Executives Charged by SEC for Alleged $110M Crypto Scam
The US Securities and Exchange Commission has accused New York’s Unicoin and three leading executives of deceiving investors and raising over $100 million through false claims regarding crypto asset offerings and company stock.
In a filing in the Southern District of New York, the SEC claims that Unicoin CEO Alex Konanykhin, board member Silvina Moschini, and former Chief Investment Officer Alex Dominguez promoted “rights certificates” associated with Unicoin tokens through allegedly false statements.
The complaint extends to general counsel Richard Devlin for misleading private placement memoranda. Devlin, without admitting wrongdoing, has agreed to a $37,500 fine and a permanent injunction.
Mark Cave, an SEC Division of Enforcement associate director, alleged that Unicoin and its officials misled investors with false assurances that its tokens would be backed by valuable real-world assets like real estate, which were much less valuable than claimed.
