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US SEC Freezes Assets of Alleged Crypto Scam Backed by a Former State Senator

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US SEC Freezes Assets of Alleged Crypto Scam Backed by a Former State SenatorUS SEC Freezes Assets of Alleged Crypto Scam Backed by a Former State Senator

The United States Securities and Exchange Commission (SEC) has frozen the assets of Meta 1 Coin, an alleged crypto scam backed by a former state senator that promised investors returns of up to 224,923% without ever having any actual tokens.

Per a March 20 announcement from the SEC, the regulator initially froze Meta 1’s assets on March 16 and is charging the firm’s operators with fraud. Currently, the SEC seems to be pursuing fines and disgorgement rather than jailtime for those involved.

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Source: Cryptocurrency - investing.com

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