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The SEC is charging a man for defrauding crypto investors out of at least $7 million
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Andrew Kelly/Reuters
The Securities and Exchange Commission said Thursday it has charged a man for defrauding at least $7 million from hundreds of investors via two fraudulent offerings for digital asset securities.
The agency said it filed a civil complaint in New York against Ivars Auzins, alleging he was behind the unregistered offer and sale of digital asset securities in an initial coin offering as well as a purported digital asset cloud mining program.
Auzins, a citizen of Latvia, allegedly used fake names, profiles, and fictitious entities to carry out the fraud against US and foreign investors. The SEC claimed he misappropriated nearly all of the investor funds that were raised.
«As we allege, Auzins was engaged in a brazen scheme to
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