A New York man was charged with fraud for his role in scamming investors out of $59 million in a crypto investment scheme.
The defendant, Eddy Alexandre used the investors’ money to contribute to his own bank account, and spent their money on personal items such as a $175,000 luxury vehicle.
Christopher Warren, Managing Partner at Warren Law Group states, “Entities involved in cryptocurrency must understand that even though the crypto is decentralized, statements made to investors are still subject to scrutiny by the SEC, DOJ, CFTC and FINRA in cryptocurrency investigations and enforcement actions. Just because crypto is decentralized and not fully regulated, does not mean there are no civil or criminal consequences. An experienced securities regualtion attorney can advise you on what investor funds can be used based on your offering documents.”
If you are being investigated by the SEC, DOJ, CFTC, or FINRA, or other government regulatory agencies, you should seek seasoned securities counsel. Contact the attorneys at Warren Law Group at (866) 954-7687 or email email@example.com to schedule your consultation.