Maksim Zaslavskiy, accused of defrauding investors with two initial coin offerings in October, has plead not guilty in court last week.
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“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,” U.S. Attorney Bridget Rohde said.
Zaslavskiy was charged with conspiracy to commit securities fraud.
One of the ICO’s was marketed as being backed by real estate assets, and the other by diamonds.
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.