the author of The Veritaseum ICO must shell out in the context of a comparison with the U.S. securities and exchange Commission, a seven-digit fine. A victims Fund for bruised VERI-investors is being considered. He is to be fed from the million, the Middleton has invested in crypto currency, Fiat money and precious metals.
By Christopher clover
5. November 2019BTC$9.348,62 0.58%part Facebook Twitter LinkedIn xing mail
In the dispute between the US securities regulator, the SEC, and the entrepreneur Reginald Middleton, both sides have agreed on a settlement. Middleton, the SEC, among other things, the sale of unregistered securities in the Form of the VERI Token (Veritaseum) is accused of, has agreed to pay a settlement amount of a total of around 9.5 million US dollars ready. 8.5 million US dollars of which is attributable to profits, the Veritaseum is said to have siphoned off after the Inital Coin Offering is unlawful. A civil penalty in the amount of one Million US dollars is added for Middleton personally.
The $ 9.5 million will flow into a victims Fund for bruised VERI-investors. The financing of the Fund, to the payment of the mediators, seems to be backed up. The SEC has already frozen in the August accounts of Middleton, after this had begun, to transfer proceeds from the Veritaseum ICO on his private account. As a result, the SEC requested the blocking of a total of 18 Bank accounts, including the major banks, Bank of America, Citibank and J. P. Morgan Chase. Also, her account on the crypto-exchanges Kraken and Gemini were affected by the SEC Order.
compensation for Veritaseum-victim
The financial institutions are now encouraged to transfer the contents of all the listed accounts to the SEC. Kraken and Gemini to transfer Bitcoin and Ethereum from the affected Accounts to the custody of the Mediator. In addition, Middleton’s rear has layers in the Form of Gold, silver and Palladium. These, too, were frozen by the SEC””. This is a total of about 12.4 kg of Gold, 42.1 kg of silver, and 13.5 kg of Palladium. The value of the frozen-in precious metals combined is around $ 1.5 million.
Away from the payable sum of the comparison has further consequences for Middleton. So, it is forbidden to Middleton now, among other things, to sell digital securities in any Form. Nevertheless, the comparison does not have to answer to Middleton before a criminal court. Also, he must not speak to his guilt. Furthermore, Middleton has no possibility of an appeal procedure. The approval of the settlement by a New York court is final.
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Veritaseum a part of in the direction of hundreds of ICOs, against which the SEC determines. The accusation usually refers to the issuance of unregistered securities to retail investors. The SEC classifies the majority of the tokens as securities, because investors usually expect an increase in the value of the Assets. For this reason, the authority has punished numerous ICOs. It is about a million compared with a Block.One of the authors of the EOS.
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