SEC v. Auzins

Ivars Auzins allegedly defrauded hundreds of retail investors in connection with two separate fraudulent offerings. According to the SEC’s complaint, Auzins defrauded U.S. and foreign investors through the Denaro initial coin offering of digital assets from January-March 2018, and through Innovamine, an online entity that purportedly offered a cloud mining and digital asset trading platform from April-July 2019. Auzins allegedly used fictitious names, fictitious legal entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised.

Summary generated from official Securities and Exchange Commission press release