SEC charged Unicoin and its top executives with exaggerating the value of it’s real estate assets to be tied to their tokens by claiming over $1.4 billion in appraised property acquisitions, while the actual value was no more than $300 million and most transactions never closed

Event date

May 20, 2025

Quotes that support claims

"We allege that Unicoin and its executives exploited thousands of investors with fictitious promises that its tokens, when issued, would be backed by real-world assets including an international portfolio of valuable real estate holdings," Mark Cave, associate director in the SEC’s Division of Enforcement, said in a statement. "But as we allege, the real estate assets were worth a mere fraction of what the company claimed."

Among its allegations, the SEC said Unicoin never actually owned the real estate properties it told investors it had acquired, and that those properties' values were inflated. "For example, between September 2023 and January 2024, the Promoting Defendants announced acquisitions of properties in Argentina, Thailand, Antigua, and the Bahamas, purportedly with appraised values totaling more than of $1.4 billion; in fact, the majority of those transactions never closed and the actual combined value of the four properties was no more than $300 million," the complaint said

Tags

Week 21 of 2025