The
SEC has accused three partners of the cryptocurrency startup Bitcoiin2Gen of $11.4 million in an ICO involving Hollywood actor Stephen Seagal.
In February 2018, actor Steven Seagal became the brand ambassador of Bitcoiin2Gen and actively promoted the ICO campaign on social networks. The startup raised $ 75 million. In early March 2018, the New Jersey Bureau of Securities stopped the ICO of the Bitcoiin2Gen project to protect investors from possible fraud.
According to the SEC, from December 2017 to May 2018, the founder of Bitcoiin2Gen and Start Options Christian Krstic, promoter John DeMarr and partner Robin Enos offered investors B2G digital assets with securities properties. The application is filed in the US District Court for the Eastern District.
"The conduct alleged in this action was a blatant attempt to victimize those interested in digital asset technology and these defendants should be held accountable," said Kristina Littman, Chief of the SEC Enforcement Division's Cyber Unit. "In reality, we allege, these ventures were fraudulent enterprises aimed simply at misappropriating funds from investors."