Veritaseum rate fell 70% amid SEC charges of fraud

The Commission on securities and exchange Commission (SEC), the United States filed a lawsuit against the new Yorker and project related Veritaseum, the company implicated by the regulator in conducting in 2017-2018 unregistered ICO signs of fraud. The SEC asks the court to order the immediate freezing of assets of defendants.

According to published documents, the SEC intends to prosecute Reginald Middleton and company Veritaseum, Inc. and Veritaseum LLC.

The Commission alleges that the defendants attracted 14.8 million dollars by cheating investors. The SEC believes that the organizers of the ICO there are still about 8 million dollars of illegally collected money, which she requests to freeze.

On the news the exchange rate of the token VERI fell more than 70% (14:00 MSK losses decreased to the level -59,86) to $8,50. In the beginning of last year VERI was trading at $500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without the traditional intermediaries. VERI was announced as utility-token for use in consulting services and access to research.

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Author: Vitalik


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