Fantasy Market ICO CEO disappeared with raised money

According to the source, Jonathan Lucas could "carry away" from $2M to $5M
09 January 2018   1915

Four investors of Fantasy Market ICO reported that the CEO of the startup disappeared with money after the ICO. This is written by NYPost.

Jonathan Lucas, creator of the Fantasy Market project and FMtoken cryptocurrency, intended to raise up to $ 25 million last year, according to white paper. Number of attracted funds is unknown. In November, in a conversation with reporters, Lucas said that he managed to collect less than $ 2 million, but back in September, in private conversations, he said that up to $ 5 million he lacks only 13%.

It was assumed that FMtoken will be used as a means of paying for viewing streaming porn video in real time.

During the November interview, Lucas talked for about an hour about how his ICO was going and explained the contents of white paper. At the same time he stated that he was not trying to deceive anyone and was using a real name. Several investors who lost their money believe that Jonathan Lucas is a pseudonym.

"Jonathan Lucas (probably a pseudonym) deceived us and disappeared with our cryptocurrency," said one of the investors in a conversation with NYPost after two months from the date of the investment.

At the moment of press, website of ICO consists of one page with the text bellow.

Fantasy Market Website
Fantasy Market Website

NYPost was able to talk with an anonymous investor regarding the refund.

[Recently] I wrote threatening to file police and FBI reports. Within hours they refunded me ethereum with a dollar amount equal to what I had contributed in early September, but since the coin has more than tripled in value since then, they kept the rest of my contribution, essentially stealing quite a lot of money from me.
 

Anonymous Investor

Another investor suggested that Lucas actively trades on the stock exchange crypto-currency, apparently using the money of investors for this purpose.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   166

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.