Title: SEC Charges Bitclout Founder With Multi-Million-Dollar Crypto Fraud
Post by: Bitcoin on Jul 31, 2024, 06:17 am
Post by: Bitcoin on Jul 31, 2024, 06:17 am
SEC Charges Bitclout Founder With Multi-Million-Dollar Crypto Fraud
The U.S. Securities and Exchange Commission (SEC) has charged Nader Al-Naji, founder of Bitclout (now Decentralized Social), with running a multi-million-dollar fraudulent crypto scheme. Al-Naji allegedly raised over $257 million through unregistered sales of Bitclout tokens (BTCLT) and used the funds for personal expenses. He attempted to evade regulatory scrutiny by portraying Bitclout as decentralized […]
Source: SEC Charges Bitclout Founder With Multi-Million-Dollar Crypto Fraud (https://news.bitcoin.com/sec-charges-bitclout-founder-with-multi-million-dollar-crypto-fraud/)
The U.S. Securities and Exchange Commission (SEC) has charged Nader Al-Naji, founder of Bitclout (now Decentralized Social), with running a multi-million-dollar fraudulent crypto scheme. Al-Naji allegedly raised over $257 million through unregistered sales of Bitclout tokens (BTCLT) and used the funds for personal expenses. He attempted to evade regulatory scrutiny by portraying Bitclout as decentralized […]Source: SEC Charges Bitclout Founder With Multi-Million-Dollar Crypto Fraud (https://news.bitcoin.com/sec-charges-bitclout-founder-with-multi-million-dollar-crypto-fraud/)