Africa

Asia

Europe

Middle East

North America

South America

United States

Cryptoassets & Blockchain Legal News

BTC $ 3609 1.0%
BCH $ 129 5.34%
ETH $ 119 1.38%

United States

CFTC files against My Big Coin

January 27, 2018 by Ashley MAO

My Big Coin, a company that raised over US$6 million via an ICO, later allegedly used for a variety of luxury goods and personal expenses by its founders, has been hit by a federal court enforcement action from the Commodities and Futures Trading Commission (CFTC).

The commission accused the company of fraud, with the charges filed against the firm, as well as its creators –  Randall Crater and Mark Gillespie.

Bother the plaintiff’s assets have been frozen by a court judge of the Massachusetts districts and so were the assets of a number of individuals and one company, which, allegedly, provided no investment services from the clients they received money from.

 

Tags: ,

More info from other sources

Ashley MAO, Coinlaw

view profile
Ashley MAO is a member of the Coinlaw team. Read more about our team.

SIMILAR NEWS

United States Latest Cryptoassets & Blockchain Legal News

Stay tuned with the legal news on blockchain & cryptoassets

Whether you are a founder gearing-up for an ICO, a token-buyer or a cryptoasset trader, subscribe to our newsletter to be informed of the latest legal developments impacting blockchain & cryptoassets in each and every jurisdiction