Quote from: Phildo on June 30, 2017, 12:59:10 AM

Quote from: RoomBot on June 28, 2017, 02:57:53 AM

Garbanzo has really made a name for himself:

TODAY'S Crowdfund Insider

https://www.crowdfundinsider.com/2017/06/111928-lawfirm-calls-bancor-ico-interesting-cautions-investors-participating-icos/

Quote

Crowdfund Insider: What types of fraud have you seen in the ICO market?

Sauter & McGill: The GAW Miners case is an obvious example of what can go wrong when new tokens are used to hide a flawed business model [the SEC ordered $10,384,099 in disgorgement and prejudgment interest and each entity was required to pay a civil penalty of $1,000,000. Both GAW Miners and ZenMiner have ceased their former business operations].

Thats an extreme case, but it shows what SEC and private litigation can look like when things go wrong. If ICOs are ultimately deemed subject to the securities laws, the fraud cases of the future will hinge on whether regulators and private plaintiffs are able to portray disclosures made in connection with ICOs as involving material misrepresentations or omissions.

would be nice for them to include how much of that 12 million that was ordered to be paid was actually paid

I spoke to one of SEC attorneys a while back and she said there was $0. I didn't get into specifics but I assume she meant that GAW and Zenminers had $0. I honestly don't know how it is possible that Homero has $0. He did hire a fairly expensive attorney afterall.

truckinusa

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