Unicoin defrauded investors through future crypto token scam, SEC alleges
The Securities and Exchange Commission (SEC) has charged cryptocurrency company Unicoin, three top executives, and its general counsel with defrauding investors of $110 million by selling them bogus “rights certificates” in a future cryptocurrency coin.
From February 2022 until May 20, Unicoin chief executive officer Alex Konanykhin, former president and board chair Silvina Moschini, and former chief investment officer and current board member Alex Dominguez offered certificates to the public that promised to convey rights to stock in a cryptocurrency asset, Unicoin tokens, that were not yet minted.
The executives, plus Unicoin general counsel Richard Devlin, claimed the crypto assets were backed by billions in real estate holdings and equity in startup companies.
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