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Last night, the SEC announced it was suing Unicoin and its executives, alleging that the team violated securities laws in its $100 million token raise. Specifically, the SEC named CEO Alexander Konanykhin, general counsel Richard Devlin and former CIO Alejandro Dominguez, as well as former board chair Maria Moschini, in the suit.

In the 77-page lawsuit, the SEC says that Unicoin and its executives made “false and misleading statements and material omissions” on various public forums. 

The team, the SEC claimed, told investors that its token would be backed by real-world assets, but the…

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