SEC v. Sergii “Sergey” Grybniak

Sergii “Sergey” Grybniak and Opporty International, Inc. allegedly conducted an unregistered and fraudulent securities offering of crypto assets called OPP Tokens via an initial coin offering (“ICO”), raising approximately $600,000 from nearly 200 investors. The complaint also alleged Grybniak and Opporty marketed the ICO by making material misrepresentations and omissions and engaging in other deceptive conduct, including exaggerating the number of users and growth of its online blockchain-based marketplace for small businesses, misrepresenting the nature of Opporty’s purported partnership with a major software company, and claiming the ICO was “SEC regulated” and “100% SEC compliant” when it was not, according to the SEC.

Summary generated from official Securities and Exchange Commission press release