According to the announcement, the trade of Cherubim Investments, Inc., PDX Partners, Inc., and Victura Construction Group, Inc. will be suspended between 9:30 a.m. EST Friday and March 2. The notice was dated Feb. 15.
SEC stated that its trading suspension orders state that recent press releases issued by CHIT, PDXP, and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.
The release also indicates additional reasons for the suspensions. The agency’s orders also say there are questions regarding the nature of the company's business operations. In case of CHIT, the Commission suspended trading in the securities because of its delinquency in filing annual and quarterly reports.
In August 2017, the SEC issued a warning for investors about the companies that may publicly announce ICO or coin-related events to affect the price of the company’s common stock.
Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams.
U.S. Securities and Exchange Commission