US authorities arrested ICO scammer

Maksim Zaslavskiy had been arrested Nov. 1 and charged with securities fraud conspiracy tied to two token sales
02 November 2017   2939

A businessman from New York accused of defrauding investors in related with two ICOs. He was arrested by the U.S. Securities and Exchange Commission.

In the official statement from the U.S. Attorney’s Office Eastern District of New York Maksim Zaslavskiy had been arrested Nov. 1 and charged with securities fraud conspiracy tied to two token sales. One ICO was marketed as being backed with real estate assets; another one - by real diamonds. 

Maksim Zaslavskiy
Maksim Zaslavskiy

Prosecutors have further alleged that the purported assets backing the tokens did not actually exist. Main US authorities mission is to protect investors.

As alleged, Zaslavskiy and his associates enticed investors by promising returns using novel ICOs even though Zaslavskiy knew that no real estate or diamonds were actually backing the investments.
 

Bridget Rohde
Acting United States Attorney

The SEC begun to suspect mr. Zaslavskiy in fraud earlier in September. According to the September's SEC press release, the activities of the Diamond Reserve Club World (DRC World) and the REcoin Group Foundation, run by businessman Maxim Zaslavsky, revealed signs of fraudulent schemes, as well as violations of securities laws. 

At the moment of press, Diamond Reserve Club World is closed, with the banner on it, saying that "Maksim Zaslavsky violated federal securities laws".

Diamond Reserve Club World website
Diamond Reserve Club World website

We wasn't able to find REcoin Group Foundation website.

According to an interview, that Zaslavskiy gave to Anycoin News few days ago, he is hiring lawyers at the moment.

I am now hiring lawyers to defend my position in the courts. The SEC's accusations are groundless, we have not deceived our investors and offer a full refund to anyone who wants it. It seems to me that the SEC feels that it has somewhat missed the issue of regulating cryptocoins and ICO and now wants to catch up, choose me as a scapegoat. I hope that there will be no criminal trial, although I can not completely exclude such a scenario.
 

Maksim Zaslavskiy
Suspected

You can see full statement for information.

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   991

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.