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Thursday

26 November 2020

SEC seeks judgement after 'no show’ in $9M Meta 1 Coin fraud case

SEC seeks judgement after 'no show’ in $9M Meta 1 Coin fraud case


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Securities and Exchange Commission has requested a default judgment against three companies and four individuals associated with the allegedly fraudulent art and gold-backed cryptocurrency Meta 1 Coin.

The defendants are Meta 1 Coin Trust, Clear International Trust, and Ironheart Trust, and individuals Robert P.

They are accused of defrauding at least 500 investors worldwide out of $9 million in exchange for crypto tokens that Meta 1 Coin allegedly fraudulently represented as being backed by either $1 billion worth of fine art assets or $2 billion worth of gold.

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