SEC filed a lawsuit against the organizer of the fraudulent cryptocurrency scheme for $6.9 million – Bits Media

United States Securities and Exchange Commission (SEC) requires a ban on Idaho's activities, who attracted $6.9 million for fraudulent investment in digital assets.

According to the document, filed by SEC in the district court of Aidaho, Schon Catting (Shawn Cuttin) It seemed to potential investors an experienced financial consultant, which allowed him to lure money for a fraudulent cryptocurrency scheme 450 Human.

In fact, the catting did not have such experience and spent $6.9 Milln for the purchase of cars, Repair of your home and payment for a wedding daughter. He also informed investors false information, describing the profit more than 50% In one month, and paid them money by analogy with the payments of the financial pyramid.

Since February 2020 year Catting began to ignore the requests of investors to withdraw money. In December, he also rejected the SEC request for access to his accounts, Argumenting this with his right to financial confidentiality.

SEC requires a restriction and prohibition of cattle participation in actions, related to the fraud described in the document. Besides, The regulator requires temporary, preliminary and permanent court prohibitions on catting, the return of the revenues illegally received by him, as well as payment of legal costs.

In addition to Sean Catting, the SEC complaint as defendants indicates his wife Dzhanin Catting and a number of different companies, Including Crypto Tradeers Management and Golden Cross Investments.

Recall, that earlier this year the US Securities and Exchange Commission has published a list of 28 unregistered cryptocurrency firms, providing investors with false information.