Unicoin received a Wells notice from the SEC in December 2024 indicating plans to file securities fraud charges followed by a settlement proposal, but, according to CEO Alexander Konanykhin, the company rejected the agency’s settlement meeting request, calling it an “ultimatum” with “unacceptable” preconditions

Event date

December 31, 2024

Quotes that support claims

Unicoin received a Wells notice from the SEC last December, informing the company that the regulator — then under the leadership of former Chair Gary Gensler — intended to file securities fraud charges. Last month, Konanykhin sent a letter to Unicoin’s shareholders, informing them that the company had rebuffed the SEC’s attempt to settle the charges, rejecting what he described as an “ultimatum” to attend a settlement negotiation meeting by April 18. “We declined to show up,” Konanykhin told CoinDesk in an April interview, adding that the SEC had made certain pre-meeting demands he deemed “unacceptable” and claiming that the SEC’s probe had caused “multi-billion-dollar damages” to the company.

Tags

Week 01 of 2024