SEC Charges Creators of Alleged $45,000,000 Crypto Scheme That Promised 500,000X Returns

SEC Charges Creators of Alleged $45,000,000 Crypto Scheme That Promised 500,000X Returns


The U.S. Securities and Exchange Commission (SEC) is charging the team behind the CoinDeal scheme for allegedly defrauding tens of thousands of investors.

The SEC filed a complaint against Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC for their involvement in the alleged fraudulent scheme that raised more than $45 million by selling unregistered securities to tens of thousands of investors around the globe.

Per the SEC, the team allegedly claimed that the investors could receive huge returns after they sell the blockchain technology called CoinDeal for trillions of dollars to a group of deep-pocketed buyers.

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But no CoinDeal sale ever took place and investors saw no returns on their initial investment, according to

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