The SEC has filed a lawsuit against Unicoin and its three executives, accusing them of false and misleading statements during fundraising.

[The SEC sues Unicoin and its three executives, accusing them of false and misleading statements during fundraising] On May 21, news broke that the United States Securities and Exchange Commission (SEC) filed a lawsuit yesterday against Unicoin, a company based in New York City, and its three executives - CEO and Chairman of the Board Alex Konanykhin, former President and former Chair of the Board, now Director Silvina Moschini, and former Chief Investment Officer Alex Dominguez - accusing them of making false and misleading statements when selling "equity certificates" and common stock of Unicoin. The "equity certificates" allegedly grant investors the right to acquire a cryptocurrency asset called Unicoin in the future. The SEC alleges that Unicoin promoted equity certificates to the public through large-scale marketing campaigns, including advertisements in major airports, thousands of taxis in New York City, on television, and social media. Unicoin and its executives are accused of causing over 5,000 investors to purchase these equity certificates through false and misleading statements. Unicoin and Konanykhin also violated securities laws by selling equity certificates to the public without registration.