Loading Posts...

SEC Issues Lifelong Ban to Fraudulent ICO Organizer Tomahawk

SEC Issues Lifelong Ban to Fraudulent ICO Organizer Tomahawk

Securities and Exchange Commission of the United States (SEC) has secured two life-long bans and a fine of $ 30,000 for the founder of Tomahawk Exploration LLC, David Lawrence. This is stated in the official release of the department.

According to the document, in the framework of Tomahawkcoin’s token, Lawrence used misleading advertising materials and deceptive statements that he is a tenant of drilling sites.

In addition, the holders of the token were given a false promise that they could exchange Tomahawkcoin for shares and receive a potential profit from oil production and secondary tokens trading.

Henceforth, David Lawrence is for life forbidden to hold the position of director in public companies, and also own and trade in so-called “penny” shares.

Lawrence himself neither acknowledged nor denied the charges, but agreed to bans and pay a fine.

Recall, in March under a large-scale investigation of the SEC regarding the scope of the ICO came the founder of the online edition TechCrunch Michael Arrington.

Leave a Comment

Loading Posts...