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SEC files lawsuit against $ 33M Crowd Machine ICO operator Cointelegraph


The U.S. Securities and Exchange Commission has filed a lawsuit against Australian Craig Derel Sproule for allegedly “fraudulent and unregistered” sales of “digital asset securities” in his company’s 2018 initial coin offering (ICO).

The SEC reported it on Thursday complaint This Sproule company, Metavine Inc., was managed by ICO Crowding Machine (CMCT) From January to April 2018, he sold unregistered securities, never launched the project and “materially misrepresented how he wanted to use the ICO’s profits.”