{"id":798,"date":"2021-12-02T18:49:05","date_gmt":"2021-12-02T18:49:05","guid":{"rendered":"http:\/\/egrowonline.com\/?p=798"},"modified":"2021-12-02T18:49:05","modified_gmt":"2021-12-02T18:49:05","slug":"sec-charges-operator-of-ico-and-cloud-crypto-mining-schemes","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=798","title":{"rendered":"SEC charges operator of ICO and cloud crypto mining schemes"},"content":{"rendered":"


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On December 2, the Securities and Exchange Commission announced<\/a> charges against Ivars Auzins over a series of digital asset-related investment schemes that the SEC is calling fraudulent.<\/p>\n

The SEC highlighted a 2018 initial coin offering for a token called Denaro, for which Auzins’ allegedly gathered $11 million worth of investments before the project disappeared.<\/p>\n

Another scheme, Innovamine, allegedly promised investors the opportunity to mine crypto using cloud computing. Auzins was accused of collecting over $7 million for Innovamine before disappearing with investors’ money.\u00a0<\/p>\n

The SEC tallied another six similar schemes, featuring a network of aliases and short-lived UK corporate registrations that Auzins used to lend legitimacy to the projects.\u00a0<\/p>\n

The commission is asking the court of the Eastern District of New York to keep Auzins, a Latvian national, from participating in any future securities offerings. They are also seeking a return of the funds that Auzins has already gained from investors.\u00a0<\/p>\n

Auzins is only the latest in a long string of ICO operators<\/a> from the 2017-2018 boom who the SEC has targeted.\u00a0<\/p>\n<\/div>\n

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advertisement On December 2, the Securities and Exchange Commission announced charges against Ivars Auzins over a series of digital asset-related investment schemes that the SEC is calling fraudulent. The SEC highlighted a 2018 initial coin offering for a token called Denaro, for which Auzins’ allegedly gathered $11 million worth of investments before the project disappeared. […]<\/p>\n","protected":false},"author":1,"featured_media":799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[836,839,62,838,93,837,840,605],"class_list":["post-798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-charges","tag-cloud","tag-crypto","tag-ico","tag-mining","tag-operator","tag-schemes","tag-sec"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2021\/12\/sec-filter-2.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=798"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/798\/revisions"}],"predecessor-version":[{"id":800,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/798\/revisions\/800"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/799"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=798"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}