Erik Voorhees, Salt Lending Being Investigated by SEC, Report Says
CoinDesk
Published Nov 16, 2018 07:10AM ET
Updated Nov 16, 2018 07:45AM ET
Crypto loans startup Salt Lending and its former CEO, Erik Voorhees, are said to be under investigation by the U.S. securities regulator, according to The Wall Street Journal.
In an article published Thursday, the news source cited "people familiar with the probe" as saying that Salt was subpoenaed by the U.S. Securities and Exchange Commission (SEC) in February seeking information on its $50 million initial coin offering (ICO) held in late 2017.
Apparently under investigation is whether Salt’s crypto fundraising effort was in fact a securities offering that should have been registered with the regulator, the WSJ says, as well as how tokens were distributed to "insiders" and how the sale proceeds were spent.
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Written By: CoinDesk
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