₦airaland Forum

The Securities and Exchange Commission (SEC) accused crypto investor and YouTube blogger Ian Balina of involvement in the unregistered ICO called Sparkster.

The project positioned itself as a “no code” development platform. It completed a crowdsale in July 2018 and raised $30 million from participants.

According to court documents, Balina promoted SPRK tokens that were securities in 2018. In doing so, the blogger failed to disclose the compensation he received for the promotion and also resold the project’s coins through his own investment pool without registering them with the SEC.

The charges concern the promotion of Sparkster on YouTube and Telegram.

The regulator intends to permanently bar Balina from participating in or promoting the securities, as well as to seize from him all income generated from advertising the project. Additionally, a monetary penalty may be levied against the defendant.

In June 2019, Balina pleaded guilty to promoting Sparkster.

In 2018, the blogger became a victim of fraudsters. During a live broadcast on his YouTube channel, unknown people withdrew more than $2 million from his accounts in various cryptocurrencies. Balina kept private and public keys in Evernote.

https://altcoin.ng/sec-accuses-blogger-of-creating-an-unregistered-ico/

How e take concern me