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.