SEC Charges BitClout Founder Nader Al-Naji in a $257M Crypto Fraud Case
full version at dailycoin
The SEC has charged BitClout founder. The regulator accused the founder of engaging in a multimillion-dollar fraud scheme. The founder faces a parallel action by the U.S. Attorney’s Office for the Southern District of New York. On Tuesday, the U.S. Securities and Exchange Commission (SEC) charged Nader Al-Naji, the founder of the social media platform BitClout, with perpetrating a multimillion-dollar fraudulent cryptocurrency scheme. The SEC alleged that starting in November 2020, Al-Naji raised over $257 million from unregistered offers and sales of BitClout’s native token BTCLT, which he reportedly misrepresented through a letter from a prominent law firm as
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