SEC Charges Lobbying Kingpin Jack Abramoff With Fraud For Promotion of 2018 ICO
Cointelegraph
Published Jun 25, 2020 04:23PM ET
Updated Jun 25, 2020 06:00PM ET
On June 25, the United States Securities and Exchange Commission charged the issuer of AML Bitcoin — not to be confused with Bitcoin itself — with conducting a fraudulent offering. These charges follow up on a criminal filing in San Francisco from June 22.
Per the complaints, Rowland Marcus Andrade and his NAC Foundation raised upwards of $5.6 million in an initial coin offering (ICO) for AML Bitcoin beginning in August 2017 and continuing through 2018, amid the huge ICO boom of that time.
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Written By: Cointelegraph
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