The SEC has filed an emergency lawsuit against Veritaseum (VERI) and its founder Reginald Middleton with the New York Eastern District Court. The action aims to prevent Mr. Middleton from spending $8 million USD raised by the company in an ICO.

“Knowingly Misled” VERI Investors

The SEC alleges that Mr. Middleton “knowingly misled” investors about prior business success in order to increase investor demand for VERI tokens. The SEC also claims that Veritaseum made manipulative trades to increase the value of VERI tokens. The value of Veritaseum, the world’s 15th largest cryptocurrency, has fallen nearly 45% …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.