Action against a company and its two founders in connection with alleged fraud against investors in securities offerings of digital assets and operation of an unregistered digital asset exchange. According to the SEC, Defendants misrepresented a daily deals platform as a global online marketplace and falsely claimed that digital tokens provided fractional shares of stock.  The SEC further alleges that Defendants falsely told investors that the tokens provided an interest in a cryptocurrency mining facility powered by below-market rate electricity.  Finally, the SEC alleges that Defendants operated an unregistered national security exchange offering trading in the tokens.  Defendant company has agreed to pay disgorgement, prejudgment interest, and a civil penalty $8,375,617.  Defendant individuals have agreed to pay disgorgement, prejudgment interest, and a civil penalty of $890,254 and $850,022, respectively.

SEC Complaint

SEC Litigation Release

SEC Press Release