On Sunday, June 9th, it was reported that the CEO and founder of the KIK cryptocurrency platform, Ted Livingston, was sentenced to death by a SEC commission for fraud, drug trafficking, prostitution, and the launch of unregistered sale of securities. This was written in Coin Jazeera.
Ted Livingston: death sentence
Ted Livingston, founder and CEO of the KIK platform, was sentenced to death in the United States. According to the information, Livingston is accused of securities fraud, the spread of prostitution, drug trafficking and unregistered sale of shares.
As you know, Ted Livingston was detained back in 2017, after conducting an illegal ICOICO
(Initial Coin Offerings) is an acronym, which means a primary currency offer. Details for the KIN tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details (KIK platform). Then the former director of the Series D venture company was suspected of fraud with valuable assets. After placing the suspect under investigation, unexpected details of his business came to light, such as: drug trafficking on the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details platform, the spread of prostitution, and fraud.
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In addition, it became known that in 2017, convicted Livingston fraudulently lured more than 50,000 Bitcoins from an investor, Erik Voorhees. According to Livingstone, he stole money and engaged in illegal manipulation of digital assets to save his company, the Series D, from bankruptcy.
"Today, Mr. Livingston is crying from prison and pleading for his life after the SEC sentenced him to death for securities fraud, but in fact, for disregard for the law. This is the Shakespearean tragedy of a man who committed fraud to save his company." – Coin Jazeera.
The founder of the KIK crypto-active, Ted Livingston, was sentenced to death. Earlier, the SEC filed a lawsuit for $ 100 million against Kik Interactive.
Editor: Jerg Wos