The SEC has filed a lawsuit against Unicoin and three of its executives, alleging false and misleading statements in connection with the fundraising

The Securities Exchange Commission (SEC) yesterday filed a lawsuit against New York City-based Unicoin and three of its top executives - chief executive and board chair Alex Konanykhin, former president and former board chair and current director Silvina Moschini, and former chief investment officer Alex Dominguez - alleging that they made false and misleading statements in connection with the sale of "certificates of interest", which allegedly give investors future rights to a crypto asset called Unicoin, and Unicoin's common stock.
The SEC alleges that Unicoin promoted certificates of interest to the public through massive marketing campaigns, including advertisements at major airports, thousands of taxis in New York City, television, and social media. Unicoin and its executives allegedly enabled more than 5,000 investors to purchase these certificates of interest through the following false and misleading statements. Unicoin and Konanykhin also violated securities law regulations by selling certificates of interest to the public without registration.