Australian cryptocurrency entrepreneur Craig Sproule has been charged by the US corporate watchdog for defrauding investors by diverting millions from a digital coin offering to South African gold mining investments.
None of the $US5.8 million has been recovered, and the South African gold mining operations “have returned no revenue”, the SEC’s statement of claim said.Mr Sproule promoted the CMCT token through “messaging applications, like Telegram, and on social media platforms hosted in and accessible to users in the United States, including Facebook, Twitter, Medium and YouTube”.
Although Mr Sproule and Crowd Machine have neither admitted nor denied the allegations, they have consented to a ban from dealing in future securities offerings and agreed to remove CMCT tokens from trading platforms. Mr Sproule will also be banned from being an officer or director of a public company.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: abcnews - 🏆 5. / 83 Read more »