FINRA has launched its first disciplinary action related to a cryptocurrency broker Timothy Tilton Ayre. He was reportedly illegally distributing the HempCoin token after acquiring the rights for this cryptocurrency security back in 2015.
Each token would represent an investment in his public company Rocky Mountain Ayre (RMTN). Back in October 2016, Ayre misled the investors by lying about the nature of RMTN, which actually doesn’t have any value.
According to FINRA rules, the broker is allowed to request a hearing where he will be able to defend himself. This fraud complaint is not meant to be taken as the final decision.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Yuri Molchan
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov