SEC Bars Founder For Fraud ICO To Fund Oil Exploration

Crime, ICO News, Investing, News | August 14, 2018 By:

The Securities and Exchange Commission today obtained permanent officer-and-director and penny stock bars against the founder of a company who perpetrated a fraudulent initial coin offering (ICO) to fund oil exploration and drilling in California.

According to the SEC’s order, David T. Laurance and Tomahawk Exploration LLC attempted to raise money through the sale of blockchain-based digital tokens called “Tomahawkcoins.” The SEC’s order finds that the defendants’ promotional materials used inflated projections of oil production that were contradicted by the company’s own internal analysis and misleadingly suggested that Tomahawk possessed leases for drilling sites when it did not.  


Crypto Mining Firm CEO Disappears With $35M USD In Investor Funds

Crime, News | July 31, 2018 By:

Le Minh Tam, chief executive of Vietnam-based crypto mining startup Sky Mining, has reportedly disappeared with investor funds totaling about $35 million.

Local news outlet VNExpress reported that about 20 investors complained to local police in the Phú Nhuận District after learning that Sky Mining had shut down its main office and removed all branding from its building.