[vc_row][vc_column][vc_paragraph text=”The US Security Exchange Commission sued the two Texans who are accused of crypto fraud.“][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”Crypto fraud amounting to half a million dollars” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”SEC claims that Larry Donell Leonard and his wife Shuana Leonard have attracted over $500 000 from 500 investors. They used different means including selling their own digital currency known as TeshuaCoin. They mislead the investors saying their token works the same as Bitcoin. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”In addition to that, that coin was supported by the Teshuater LLC products (the alkaline waters producer owned by Leonards). But this was just a marketing strategy since TeshuaCoin was neither functional nor supported by any physical product.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”By all possible means, the couple have managed to raise $170 395,20 on token sales, and the goal was to get $20 million. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Leonard used to be a pastor in Texas so he took advantage of people’s trust.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”According to the Comission’s data, he mainly tricked African-Americans. The fraudster has also attracted investments for mining – about $ 25 544,96. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”As SEC stated, he hadn’t informed the investors about the speculative nature of mining. In fact, he never directed money to mining preferring to make speculative deals with options.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The third scam was associated with raising funds for his alkaline waters producer Teshuater LLC.”][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”He is suspected in selling fake certificates ” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”luring investors with the promises of short term investment profit of 3000%. This was Leonard’s most successful fraud which brought him $ 291,044.07. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”SEC accused both Donell and his wife Shuana of violating the anti-fraud legal provisions of Securities Law. The Commission aims to cancel all the illegal profits by injunction and civil penalties.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The regulator continues its anti-fraud measures in crypto industry accusing several companies of breach of the Securities Law. Currently the Commission is involved in Telegram token sales investigation (Telegram project has attracted about $1,7 billion), and in Kik case (the company is accused of selling illegal securities).”][/vc_column][/vc_row]
DeFi
The DeFi Hotdog token collapsed, dropping from $ 4,000 to $ 1 in five minutes
[vc_row][vc_column][vc_paragraph text="Another food-related decentralized Finance (DeFi) project HotdogSwap, plummeted in five minutes. Following the current trend, we can predict that ...
Blockchain
Deutsche Borse Exchange aims to launch new exchange product on the basis of Bitcoin
[vc_row][vc_column][vc_paragraph text="London financial firm ETC Group reported it will выставлять pose Bitcoin as an exchange product with decentralized clearing (ETP) ...
News
FinTech boom in Latin America requires regulation
[vc_row][vc_column][vc_paragraph text="Although Latin America was a little late in its FinTech development, now the industry is showing a phenomenal growth ...