![]() ![]() ![]() The lawsuit alleges that Bitcoin Latinum and Kevin Jonna, who never have been registered with the Securities and Exchange Commission, or any state securities regulator, in any capacity, offered and sold the unregistered security tokens through a “pre-sale” to the public on the Bitcoin Latinum website and directly by Kevin Jonna to individual investors.Ĭounsel to the Plaintiffs, Jacob Frenkel, a former federal prosecutor and former SEC Enforcement lawyer who Chairs the Government Investigations Practice at Dickinson Wright, commented: “The fraud that we allege against our clients has the characteristics of offering frauds that I pursued as a government lawyer. The lawsuit, filed in federal court in Detroit, Michigan, alleges that Bitcoin Latinum and Kevin Jonna offered and sold at least $540,000 of unregistered securities from California in the form of a cryptocurrency called a “Bitcoin Latinum Token” (“Token”), which currently displays a trading price on certain crypto exchanges under the ticker “LTNM.” Bitcoin Latinum, a Palo-Alto, California-based cryptocurrency, and Kevin Jonna of San Diego, California, have been named in a civil lawsuit filed on Februalleging securities fraud, wire fraud, and fraudulent conversion of investment funds.
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