The United States Securities and Exchange Commission (SEC) recently revealed that it has discovered a $30 million scam concerned with Initial Coin Offerings. Boaz Manor, the scam’s main leader, and his associate Edith Pardo were already convicted, while three more associates were recently discovered to have been part of the scheme.
This recent complaint was filed in the United States District Court of New Jersey. In it, it is said that the defendants helped Manor’s and Pardo’s schemes by concealing their positions, while also holding leadership roles within the scam.
The official press release of the case reveals these three individuals as Cristine Page from New York, Michael Gietz from Idaho, and Ali Asif Hamid from Idoho.
SEC has charged all three culprits with aiding in the violation of antifraud federal securities policies, as well as breaching security registration requirements.
More specifically, the US authorities convicted the three culprits of knowing of Manor’s criminal activity and concealing it. Apparently, they used a fake alias, Shaun MacDonald, during direct investor communications. They also helped distribute fake promotional material while redirecting users to a fake “executive team” that, in reality, did not have any purpose and might have not even existed.