WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Monday said its new Cyber Unit has filed its first charges, alleging that a privately held company called PlexCorps and its top two officials had defrauded investors.
FILE PHOTO: The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington, DC, U.S. on June 24, 2011. REUTERS/Jonathan Ernst/File Photo
The regulatory agency said in a statement that it had frozen assets to halt an initial coin offering, or ICO, fraud that raised up to $15 million from thousands of investors since August by promising a 13-fold profit in less than a month.
Reporting by Michelle Price; Writing by Makini Brice; Editing by Susan Heavey and Jonathan Oatis
