<a href="https://bitcoinworld.co.in/sec-charges-bitclout-founder-with-fraud-and-unregistered-offering-of-securities/" title="SEC Charges BitClout Founder with Fraud and Unregistered Offering of Securities" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">SEC charges BitClout founder with fraud and unregistered offering of securities</li>
 <li style="font-weight: 400">The securities regulator claims Nader Al-Naji defrauded investors after raising over $200 million for a social-fi blockchain.</li>
</ul>
The Securities and Exchange Commission (SEC) charged BitClout Founder Nader Al-Naji with perpetrating a multi-million dollar fraud scheme, and the offering of unregistered securities.
Al-Naji led the Social-Fi project Bitclout, which raised over $200 million from notable investors such as a16z, Winklevoss Capital, and Alexis Ohanian’s Seven-Seven-Six.
The SEC alleges that Al-Naji portrayed Bitclout as a decentralized project with “no company behind it” and misled investors into believing that the platform was fully autonomous, while he ran it from behind the scenes.
Grubis Grewal, the director of the SEC’s Division of Enforcement <a href="https://www.sec.gov/newsroom/press-releases/2024-91" rel="noopener noreferrer nofollow">said</a>, “as alleged in our complaint, Al-Naji attempted to evade the federal securities laws and defraud the investing public, mistakenly believing that being ‘fake’ decentralized generally confuses regulators and deters them from going after you.”
The complaint also alleges that Al-Naji spent $7 million of investor funds personally, including rental payments for a mansion in Beverly Hills.

SEC Charges BitClout Founder with Fraud and Unregistered Offering of Securities

ItsBitcoinWorld

Andra artiklar publicerade 31 juli 2024

Animoca Brands and LayerZero Partner for Seamless Web3 Gaming

Winner Winner Chicken Dinner! Why VeChain and Cosmos Investors are Betting Big On The New GambleF...

Bitcoin’s Surge Boosts Hashrate and Cuts Selling Pressure

Spot Ethereum ETFs flip positive after $34M inflow on July 30

A Bitcoin Could Be Worth 49 Million Dollars by 2045?

Polymarket Surpasses $1 Billion in Trading Volume, Driven by U.S. Election Betting Surge

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!