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
