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CRYPTO FRAUD........US Government Arrests, Charge a man for ICO Fraud

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A New York businessman, Zaslavskiy and his associates who deliberately enticed investors by promising returns using novel ICOs even though Zaslavskiy knew that no real estate or diamonds were actually backing the investments," has been arrested.

The accused and his associated companies were said to have defrauded investors in connection with two initial coin offerings (ICOs) last month by the U.S. Securities and Exchange Commission.

In a statement, the U.S. Attorney’s Office Eastern District of New York said that Maksim Zaslavskiy had been arrested Nov. 1 and charged with securities fraud conspiracy tied to two token sales, one of which was marketed as being backed by real estate assets, and the other by diamonds. A complaint, originally filed on Oct. 27, was also unsealed according to acting United States Attorney Bridget Rohde.

The developments come more than a month after the SEC unveiled charges against Zaslavskiy and two related companies. The U.S. securities regulator then alleged that Zaslavskiy misrepresented the amount raised during the two ICOs, and at the time obtained a court order freezing the assets of of Zaslavskiy and the two companies.

Prosecutors have further alleged that the purported assets backing the tokens did not actually exist.



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