TechFlow news, May 21 — According to an official announcement, on May 20, 2025, the U.S. Securities and Exchange Commission (SEC) filed lawsuits against Unicoin, a New York City-based company, and its three executives, accusing them of fraud in connection with token rights certificates and common stock offerings. The SEC investigation found that Unicoin ran extensive advertising campaigns at airports, on taxis, television, and social media, falsely claiming to over 5,000 investors that its tokens were backed by "billions of dollars in real estate and pre-IPO company equity," while the actual asset value was only a fraction of what was claimed. The company also exaggerated sales of rights certificates exceeding $3 billion, when actual funds raised did not exceed $110 million, and falsely stated that its securities were "SEC-registered" or "U.S.-registered." The SEC has brought multiple charges against CEO Alex Konanykhin, former president Silvina Moschini, and former chief investment officer Alex Dominguez, seeking permanent injunctions, disgorgement of ill-gotten gains, and civil penalties. The company's general counsel, Richard Devlin, has agreed to pay a $37,500 penalty.
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