US SEC filed a lawsuit against Green United
It is reported that the United States Securities and Exchange Commission (SEC) has filed a lawsuit against Green United, accusing the Utah based company of violating the federal securities law by selling counterfeit encryption mining equipment worth $18 million. According to the SEC’s complaint, Green United and its founder, Wright Thurston, as well as its main promoter, Kristoffer Krohn, provided investors with a “green box” investment of $3000, which is a cryptocurrency excavator specially used to mine GREEN tokens on Green Blockchain. It is said that investors were told that the mined GREEN tokens support the “global public decentralized power grid” and generate a significant return of 40% to 50% per month.
Interpretation of this information:
The Securities and Exchange Commission (SEC) is suing Green United for allegedly violating federal securities law by selling fake encryption mining equipment for $18 million. The company and its founders promised investors a “green box” investment of $3,000, which would mine GREEN tokens on the Green Blockchain that purportedly supported a global decentralized power grid and generated a notable return of 40-50% per month. However, these promises were false and investors were deceived.
The SEC notes that Green United’s fraudulent activities were not just a simple mistake or misunderstanding but were intentional and malicious. The company used fraudulent marketing tactics to sell “green boxes” that supposedly mined GREEN tokens when in actuality they didn’t work at all. Additionally, Green United allegedly ran a Ponzi scheme where new investors’ funds were used to pay existing investors with supposed returns.
Green United’s alleged fraud should not go unnoticed as it has financially impacted investors and the greater market as a whole. The SEC’s lawsuit serves as a warning to other fraudulent companies that they will be caught and face consequences for their illegal activities. The agency’s efforts toward protecting and educating investors and keeping markets fair and transparent are vital in maintaining the integrity of the financial system.
This article and pictures are from the Internet and do not represent 96Coin's position. If you infringe, please contact us to delete:https://www.96coin.com/38599.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.