U.S. SEC charges Unicoin and top executives with fraud

The U.S. Securities and Exchange Commission (SEC) has charged crypto investment firm Unicoin and several of its top executives with fraud. According to the SEC’s official website, Unicoin misled investors by falsely claiming that its tokens were backed by real-world assets such as valuable real estate. In reality, the company’s assets were worth only a fraction of what was promised. The SEC also accuses Unicoin of selling unregistered securities and raising over $100 million through the sale of rights certificates. The complaint seeks to recover the proceeds of the fraud, impose civil penalties and bar the executives from serving as officers or directors of public companies.