Remember Blockvest? The ICO entangled in a web of deceit with the SEC for its fraudulent securities offering? Reginald Buddy Ringgold III’s case is back under the microscope as the SEC seeks sanctions over false evidence.
Blockvest – A Fraudulent Securities Offering
The Blockvest ICO was first thrust into the purvue of the SEC in Oct 2018 when the Commission claimed that the company was raising funds for financial products promising double-digit returns.
In November of that same year, a court ruled that the SEC had failed to provide enough evidence that Blockvest’s BLV token was a security. But that wasn’t to be the end of the Blockvest saga.
Like a dog with a bone, the Securities & Exchange Commission continued to hound Reginald Buddy Ringgold III.
Not only was the Commission convinced that Blockvest was guilty of holding a fraudulent securities offering to the tune of $2.5 million, but it was further revealed that Blockvest was falsely claiming that its upcoming December 2018 ICO was registered with the SEC.