On Thursday, Oct. 11, the U.S. Securities and Exchange Commission announced in a press release that it has obtained an emergency court order halting the planned ICO and the ongoing pre-ICO by Blockvest LLC and its founder, Reginald Buddy Ringgold, III.
In its complaint, the SEC alleges that Blockvest was using the SEC seal without permission, falsely claiming their platform was “licensed and regulated.” The complaint also states Ringgold was promoting the ICO with a fake agency of his own creation called “Blockchain Exchange Commission,” and using the graphic of the SEC’s seal and the address of the SEC headquarters.
The complaint seeks injunctions, return of ill-gotten gains, and a bar against Ringgold to prohibit him from participating in offering any securities in the future.
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.
Godfrey Benjamin
Yuri Molchan
Dan Burgin
Vladislav Sopov