P. Durov Called to Testify in SEC vs Telegram Case

To testify, Durov will choose the date of January 7 or 8, 2020 and the address agreed by the participants in the process
26 November 2019   293

Telegram founder Pavel Durov and two company employees must come to testify during the current trial with the US Securities and Exchange Commission (SEC), CoinDesk writes referring to a document signed on November 25 by Judge Peter Kevin Castel of the New York Southern District Court. .

According to the document, to testify, Durov will choose the date of January 7 or 8, 2020 and the address agreed by the participants in the process. The main meeting at which the legal status of the Gram token will be decided is still scheduled for late February.

Also on December 16 in London, testimony should be given by Telegram Vice President Ilya Perekopsky, presumably responsible for contacts with investors during tokensales. The third person called to pre-testify on December 10 in London is Syam Pareh, a Telegram employee, whose name is indicated in the documents for investors.

SEC to Accuse Shopin in $42M Worth ICO Scam

The Commission believes the actions of Shopic during the ICO was the offering or unregistered securities
12 December 2019   92

The U.S. Securities and Exchange Commission (SEC) has accused Shopin and its CEO Eran Eyal of cryptocurrency cheating on investors during the initial offer of $ 42 million tokens.

According to the SEC, the actions of Eyal and his company were an unregistered offer of securities in the form of Shopin tokens.

Eyal told investors that the funds raised would be used to create a blockchain platform for storing and tracking profiles of online store customers. In addition, he lied about existing partnerships with retailers, the agency said.

The problem is that Shopin never created a system, says the regulator.

Instead, Eyal appropriated more than $ 500,000 for personal use, including a dating service.

SEC accused Eyal and Shopin of violating securities laws. The regulator requested the court to oblige the accused to return the illegally appropriated funds with interest and payment of fines. In addition, the SEC has proposed banning Eyalu from acting as an official in any offer of securities or tokens.

In a statement, the SEC also recalled that the prosecutor’s office in 2018 accused Eyal of appropriating $ 600 thousand of investor funds to his previous company Springleap.