The complaint alleges that John DeMarr and Kristijan Krstic violated federal securities laws during the 2018 increase, and accused DeMarr and his associate and corporate promoter Robin of aiding and abetting.

Three people involved in promoting the 2018 B2G token and supported by actor Steven Seagal have been indicted by the US Securities and Exchange Commission. According to the SEC, the three people have owned the now-defunct crypto company Bitcoiin2Gen $ 11.4 million investor scam over the B2G coin offering publicly promoted by Steven Seagal.

The SEC complaint filed in the U.S. District Court for the Eastern District of New York on February 1 found that John DeMarr, founder of Bitcoiin2Gen, Kristijan Krstic, founder of Start Options, and Robin Enid, a corporate sponsor, were investors through the Cheated Money on Unregistered and Fraudulent Securities Offering from December 2017 through May 2018. According to reports, the trio lured investors into spending more than $ 11 million in cash for tokens and products that were worth far less than they represented, as well their performance.

The complaint alleges that John DeMarr and Kristijan Krstic violated federal securities laws during the 2018 increase, accusing DeMarr and his associate and corporate promoter Robin of aiding and abetting. DeMarr is also charged with fraud in a parallel lawsuit filed on February 1 SEC also claimed that the trio had promised investors from Bitcoiin2Gen Ethereum based Token that never existed.

The SEC stated that the launch options created by Kristijan Krstic were a scam disguised as a platform for trading and mining cryptocurrencies, as was Bitcoiin2Gen, a scam claimed as a token. The complaint also revealed that DeMarr had fraudulently misappropriated $ 1.8 million, nearly half of the fiat currency he had collected from investors for his personal gain, to be injected on fancy and expensive cars and his credit card debt settle.

“Krstic has now received more than $ 9 million in investor money in fiat currency and digital assets.” Krstic reportedly withdrew from the program in 2018 without reimbursing investors. This, despite DeMarr’s description of Start Options as “the largest Bitcoin exchange in terms of euro volume and liquidity,” was the complaint.

Robin Enid, the third member of the trio, according to the SEC, received nearly $ 12,000 from DeMarr for his role and participation in the marketing effort. DeMarr and Enos falsely claimed that B2G tokens would be minable and tradable until April 2018, the same month that Krstic stopped the crypto project.

“They allegedly distributed misleading brochures among 460 investors to whom they had promised a” degradable “and” tradable “digital token – B2G – that would sell the ticket for funds they never returned,” the complaint said.

Actor Steven Seagal, who was the face of the project, was fined by the SEC in February last year for failing to reveal that he had been paid a $ 157,000 B2G token to market Bitcoiin2Gen was. Seagal resolved related charges with the SEC last February and was not named in the February 1 lawsuit.

Next Altcoin News, Cryptocurrency News, News

Crypto fanatic, writer and researcher. Think blockchain is second on the list of greatest inventions after a digital camera.

Thank you!

You have successfully joined our subscriber list.