KodakCoin Token Sale Delayed

The company said it plans to verify the roughly 40,000 applications it’s received for investing in KODAKCoin
01 February 2018   1258

Kodak’s ICO was supposed to begin last night but the company has announced the delay of the launch of its KODAKCoin token in order to give the company time to vet the surge of potential investors. The company said it plans to verify the roughly 40,000 applications it’s received for investing in KODAKCoin. Kodak expects this process to take several weeks.

According to the announcement, accredited investors are those persons whose individual net worth, or joint net worth with his or her spouse, exceeds $1 million, or who had an individual income in excess of $200,000, or joint income with his or her spouse in excess of $300,000, in each of the two most recent years, and has a reasonable expectation of reaching the same income level in the current year.

KodakCoin will be offered to accredited investors from the U.S., UK, Canada and other select countries. Outside the U.S., it will be offered to select non-US persons in accordance with the applicable laws of each jurisdiction where such offers and sales occur.

The company also warned investors against fake KodakCoin ICO pages appearing on Facebook and other websites, and that investors would not be able to purchase tokens outside the company's official platform.

CEO AriseBank Admitted to Fraud

Now Jared Rice faces up to 120 years in prison, however, confession may reduce this period to 20 years
22 March 2019   75

AriseBank CEO Jared Rice confessed to deceiving investors for $ 4.2 million in cryptocurrency. The plea agreement filed in the federal court of Dallas, Dallas News кузщкеы.

According to the document, Rice promised investors a "guaranteed return" of up to 20% of the invested funds, as well as opening bank accounts insured by the Federal Deposit Insurance Corporation and Visa-related debit and credit cards, although he did not have agreements with these companies.

The $ 4.2 million received from the ICO Rice spent on his girlfriend, lawyers, as well as on hotels, food and trips by Uber.

It is noteworthy that Jared Rice’s plea for cryptocurrency fraud was one of the first of its kind in the United States.

Now Rice faces up to 120 years in prison. However, confession may reduce this period to 20 years. Also, the organizer of the scheme will have to pay damages to deceived investors.

The final verdict on the case will be delivered on July 11.

Jared Rice was arrested in November 2018 on charges of fraud with unregistered securities and fraud using electronic means of communication. In December, the US Securities and Exchange Commission (SEC) obliged him and Stanley Ford, co-founder of AriseBank, to pay about $ 2.7 million as part of the settlement of the charges.