SEC Charges 8 People In $45M Crypto Scam

SEC Charges 8 People Involved In $45M Crypto Scam

January 5, 2023 Story: Mohd Javed

The SEC has slammed charges against eight individuals and businesses selling unregistered securities via the blockchain tech firm CoinDeal.

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The defendants include Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC.

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In its complaint, the SEC said that CoinDeal founder Neil Chandran operated a fraudulent crypto investment scheme along with other individuals and groups.

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CoinDeal’s perpetrators raised over $45 million by selling unregistered securities to investors.

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Those involved in the scheme also misused funds for personal expenses.

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A past announcement suggests that Chandran had to forfeit at least 100 different assets.

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The scam creator Neil Chandran has a long history of fraud.

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