Skip to comments.SEC Files Charges Against Two ICOs
Posted on 09/30/2017 3:36:09 AM PDT by Logicbox
REcoin was initially touted as a coin offered with backing in real estate assets purchased with proceeds from the ICO. Zaslavskiy told investors that the company had a team of lawyers, professionals, brokers and accountants that would complete the purchases, when in fact, no one had been hired.
He also indicated to investors that he had raised between $2 and $4 mln, when the actual figure was closer to $300,000.
(Excerpt) Read more at goo.gl ...
What is an ICO?
It’s an initial coin offering similar in some ways to IPO, it is currently an unregulated space in the industry. It’s a way of raising funds, in IPO’s only accredited investors are allowed, whereas anyone can take part in ICO’s. Think when Snapchat had its IPO the stocks where been sold for next to nothing, by the time you see it the price has more than quadrupled.
I have a little money in Bitcoin, Etherium and Litecoin.
You are ok, nothing to worry about. In fact well done.
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