SEC Charges Siblings for Crypto Fraud

The Securities and Exchange Commission (SEC) recently charged two siblings with defrauding thousands of investors out of approximately $125 million through unregistered securities offerings involving a digital token. 

According to the complaint, the siblings were selling the digital token, Ormeus Coin, on crypto trading platforms. The defendants utilized social media to falsely claim that Ormeus Coin was supported by one of the world’s largest crypto operations in the world.

Christopher Warren, Managing Partner at Warren Law Group, states, “Social media can be an excellent way to enhance your brand and create a value proposition for your company. However, if you disseminate inaccurate or misleading information to the public it can lead to investigations from government regulators such as the Securities and Exchange Commission, Department of Justice, FINRA, or a state regulator (such as the Attorney General) enforcing ‘blue sky’ securities laws. If Ormeus had sought experienced regulatory counsel, the results of this government investigation might have been quite different.”

If you are under investigation by a government regulatory agency, such as the SEC, DOJ, FINRA, or your States Attorney General, contact the attorneys at Warren Law Group at (866) WLGROUP or email info@warren.law to schedule your consultation.

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Christopher D. Warren

Christopher D. Warren, Managing Partner