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Unicoin Crypto Exchange Charged in $100 Million Fraud

  • Federal regulators charged cryptocurrency exchange Unicoin and three executives for defrauding investors by making false statements and misleading promises.
  • Unicoin received over $100 million from thousands of investors by falsely claiming its tokens would be backed by valuable real estate assets.
  • The executives facing charges are Unicoin CEO Alex Konanykhin, former president Silvina Moschini, and former chief investment officer Alex Dominguez.
  • The SEC seeks penalties including injunctive relief, disgorgement of gains, civil penalties, and officer-and-director bars against the Unicoin executives.

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