HomeBankingSEC: Charges DeFi company for defrauding investors out of $30 million

SEC: Charges DeFi company for defrauding investors out of $30 million

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SEC: Charges DeFi company for defrauding investors out of $30 million

  • SEC is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation
  • Charged two Florida men and their Cayman Islands company for unregistered sales of more than $30 million
  • Company Blockchain Credit Partners offered in unregistered offerings through DeFi Money Market
  • The order finds that they used smart contracts to sell two types of digital tokens
  • According to the order, in offering and selling mTokens and DMG governance tokens, the respondents stated that DeFi Money Market
  • The order finds that rather than notifying investors of this roadblock, the respondents misrepresented how the company was operating
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