ICO Scammers now uses the SEC badge for False Authorization

The Securities and Exchange Commission, SEC has recently announced that an emergency court order has been secured to go against Blockvest, a company ran by Reginald Buddy Ringgold, who recently organized an ICO under the false pretense that the SEC already approved the ICO. The offense has been reported to be a violation of federal law.

Blockvest is Two Faced
It was also reported that Blockvest falsely claiming their crypto fund was ‘licensed and regulated.'”
The SEC further made a statement in connections to the court order, stating that:

“Blockvest and Ringgold also allegedly misrepresented Blockvest’s connections to a well-known accounting firm, and continued their fraudulent conduct even after the National Futures Association (NFA) sent them a cease-and-desist letter to stop them from using the NFA’s seal and from making false claims about their status with that organization,”

The hearing for this case is now set for the 18th of October, and it is expected to take place in the Southern District of California.

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via coindoo.com