SEC charged Unicoin’s general counsel Richard Devlin for making misleading statements in private placement memoranda, who agreed to a $37,500 penalty and a permanent injunction without admitting wrongdoing

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May 20, 2025

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The SEC sued Unicoin, CEO Alexander Konanykhin, former board chair Maria Moschini, senior vice president and general counsel Richard Devlin and former chief investment officer and investor relations officer Alejandro Dominguez on securities law violations,
The complaint also targets the company's general counsel, Richard Devlin, for misleading statements in private placement memoranda. Without admitting wrongdoing, Devlin has agreed to pay a $37,500 penalty and accept a permanent injunction.
The complaint also charged Richard Devlin, general counsel of Unicoin, with antifraud violations for allegedly making similar misstatements in private disclosures. Devlin has since agreed to a permanent injunction and a civil penalty of $37,500, without admitting or denying the charges.

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Week 21 of 2025
05/20/2025