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The SEC takes aim at Unicoin’s “asset-backed” illusion

Sunrise in New York City
Photo: Gary Hershorn/Getty Images

The company and its executives are charged with defrauding investors through false claims about the company’s crypto tokens.

The SEC has charged New York-based Unicoin, Inc. and several of its top executives with misleading thousands of investors through what the agency described as a campaign of false assurances and exaggerated claims.

At the heart of the case is Unicoin’s marketing of “rights certificates” that allegedly entitled holders to