SEC accused Latvian citizen of creating cryptocurrency fraudulent schemes – Bits Media

United States Securities and Exchange Commission (SEC) accused Latvian citizen Ivars Auzins of organizing several fraudulent schemes, associated with cryptocurrencies.

According to the SEC, in 2018 year Ivars Auzins (Ivars Auzins) launched the initial placement of tokens (ICO) under called Denaro. The fraudster collected about $11 million and disappeared with investors' money.

In another scheme called Innovamine, a Latvian promised investors big profits from “cloud mining” of cryptocurrencies. In this case, the fraudster embezzled about $7 million.

Auzins is accused of organizing six more similar schemes. The Latvian citizen used various project names and briefly registered companies in the UK, to give them legitimacy in the eyes of investors.

In the lawsuit, filed in court, SEC requires Auzins to be banned from participating in any securities offerings. The regulator is also seeking a refund, received from American investors.

Recall, that American trader Jeremy Spence recently admitted to cryptocurrency fraud, known under the pseudonym "Coin Signals". He threatens before 10 Years of prison.