Maksim Zaslavskiy, accused of defrauding investors with two initial coin offerings last month, has been arrested according to the U.S. Attorney’s Office Eastern District of New York.
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One of the ICO’s was marketed as being backed by real estate assets, and the other by diamonds.
“As alleged, Zaslavskiy and his associates enticed investors by promising returns using novel ICOs even though Zaslavskiy knew that no real estate or diamonds were actually backing the investments,” United States Attorney Bridget Rohde said in a statement.
The U.S. securities official alleged that Zaslavskiy misused the amount raised during the two ICOs, and has obtained a court order freezing the assets of Zaslavskiy and the two companies.