SEC Reaches Scandalous Broker ICOBox
SEC Charges ICOBox and Founder Over Unregistered ICO
The official SEC website says that ICOBox project raised funds to develop its own platform through an initial placement of coins more than $14.6 million in 2017. It is known that over 2,000 people invested in ICOs. The creators of ICOBox claimed that the rate of their tokens will grow over time, and the first investors will receive privileged access to other ICO projects, which are promoted on their platform. In fact, these tokens are absolutely worthless.
As says in the complaint, ICOBox did not get a broker license. Although, this fact did not stop the creators of the project — many ICOs were registered on their platform. In addition, they attracted more than $650 million in total.
By ignoring the registration requirements of the federal securities laws, ICOBox and Evdokimov exposed investors to investments, which are now virtually worthless, without providing information that is critical to making informed investment decisions.
SEC employees require immediate judicial sanctions against the defendant. For detailed information go to the official website of Securities and Exchange Commission.
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