SEC accused a new altcoin of being a security and also charged its founder with fraud!

The SEC (SEC) has filed a lawsuit against a new cryptocurrency investment company while closing the cryptocurrency cases initiated by the previous SEC administration.

According to the official statement of the SEC, the SEC charged the cryptocurrency company Unicoin and three senior executives, including its CEO and Chairman Alex Konanykhin, with fraud.

Accordingly, the SEC charged Unicoin and its executives with making false and misleading statements regarding their efforts to raise more than 100 million dollars from thousands of investors.

According to the SEC, the company misled investors with the false claim that Unicoin tokens are backed by real-world assets like valuable real estate.

SEC stated that it claimed Unicoin sold over 3 billion dollars in certificates to deceive investors, but in reality, it could not raise more than 110 million dollars.

The SEC also claims that Unicoin and CEO Konanykhin violated federal securities laws by selling unregistered securities and rights certificates.

Mark Cave, director of the SEC's Division of Enforcement, said: "We allege that Unicoin and its executives have exploited thousands of investors with fictitious promises that their tokens, when issued, will be backed by real-world assets, including an international portfolio of valuable real estate assets. As we claimed, the real estate assets were worth only a fraction of what the company claimed, and many of the sales of the company's rights certificates were misleading. "We believe that Unicoin's most senior executives have perpetuated the fraud, and with today's lawsuit, we want them to be held accountable for their fraudulent behavior."