U.S. SEC Settles with Bitqyck After Alleged Fraud and $13 Million Unregistered Securities Offering
Quote
On August 29th 2019, the U.S. Securities and Exchange Commission (SEC) announced a settlement with Bitqyck and its founders. The settlement stems from charges by the SEC which include fraud, false promises to investors, personal expenses of over half a million dollars paid directly by investor funds, and unregistered securities offerings.
Bitqyck and the SEC’s Settlement Explained
The SEC alleges that Bitqyck Inc. and its founders— Bruce Bise and Sam Mendez— defrauded investors, operated an unregistered securities exchange, and raised over $13 million in an unregistered securities offering.
Per the SEC’s complaint, Bitqyick promoted two digital tokens, Bitqy and BitqyM from December 2016 to February 2019. The tokens were promoted to prospective investors in 45 U.S. states, two U.S. territories, and 20 countries, through what the SEC calls “multiple, fraudulent unregistered digital asset securities offerings”.
Bitqyck and the SEC’s Settlement Explained
The SEC alleges that Bitqyck Inc. and its founders— Bruce Bise and Sam Mendez— defrauded investors, operated an unregistered securities exchange, and raised over $13 million in an unregistered securities offering.
Per the SEC’s complaint, Bitqyick promoted two digital tokens, Bitqy and BitqyM from December 2016 to February 2019. The tokens were promoted to prospective investors in 45 U.S. states, two U.S. territories, and 20 countries, through what the SEC calls “multiple, fraudulent unregistered digital asset securities offerings”.
https://thetokenist.io/u-s-sec-settles-with-bitqyck-after-alleged-fraud-and-13-million-unregistered-securities-offering/
And it looks like it's dead as well with 99% below it's ATH, another victim of the altcoin winter and bleeding.