Bitcoin ATM provider Coinme, its subsidiary Up Global and CEO neilbergquist have agreed to pay SECGov nearly $4 million to settle charges of conducting an unregistered securities sale. iamsandali reports
The SEC alleged Bergquist and Up Global worked to obtain UpToken supply"that would substantially reduce Coinme's need to purchase UpToken" following the ICO, leading to"publicly inflated amounts raised."
To settle the charges, Up Global agreed to pay a $3,520,000 penalty, while Coinme agreed to pay a separate $250,000 penalty and Bergquist agreed to pay $150,000, according to the regulator. "The SEC order also bars Bergquist, for a period of three years, from acting as an officer or director of a public company," the announcement said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC serves $4M in fines to Coinme over ‘misleading’ UpToken ICOCoinme, Up Global and the CEO of both companies, Neil Bergquist have been served nearly $4 million in fines from the SEC for selling unregistered securities and misleading Initial Coin Offering (ICO) investors.
Read more »
CEO of Italy's Eni sees no major energy price upsets in 2023The CEO of Italian oil and gas company Eni , Claudio Descalzi, has said he does not expect any 'big shocks' on the energy markets this year.
Read more »
Wahoo!: ‘Super Mario Bros’ Jumping Past $1B Global On SundayRefresh for latest…: It was just a matter of time. With estimates through Sunday, Illumination/Nintendo/Universal’s The Super Mario Bros Movie is expected to cross $1B global tomorrow, becoming the…
Read more »
Basketball at the CEO’s House, and the Office Is InvitedThis CEO views basketball as a team-building tool. The players at the games he hosts range from veteran professionals to a colleague’s teenage granddaughter.
Read more »
‘The Super Mario Bros. Movie’ Crossing $1 Billion at Global Box Office“The Super Mario Bros. Movie” has pounded out some serious coinage. The animated adventure from Universal Pictures, Illumination Entertainment and Nintendo is becoming the first release…
Read more »
Formosa Group Employees Petition Parent Company to Keep CEO Bob Rosenthal After His Resignation (Exclusive)'He is the leader we trust to usher our company through the times ahead,' reads the petition sent to Streamland Media following the sound company founder's resignation.
Read more »