The United Securities and Exchange Commission (SEC) has filed an emergency action to seize the assets of Miami-based investment adviser BKCoin Management LLC and its principal Kevin Kang for their connection to a crypto fraud scheme.
In a March 6 press statement, the financial regulator said BKCoin raised around $100 million from 55 investors. SEC added that:
“BKCoin and Kang instead used some of the money to make Ponzi-like payments and for personal use.”
The post SEC files emergency action against BKCoin for raising $100M through crypto fraud appeared first on CryptoSlate.
Source: https://cryptoslate.com/sec-files-emergency-action-against-bkcoin-for-raising-100m-through-crypto-fraud/