The chief executive of Longfin and three of its stockholders have been charged with illegally selling shares in the cryptocurrency company after it went public through a Regulation A+ “mini-IPO.”
The U.S. Securities and Exchange Commission said one of the shareholders — stock promoter Amro Izzelden “Andy” Altahawi — made more than $25 million in illicit profits from sales of restricted shares that Longfin CEO Venkata Meenavalli had issued him in return for his “purported legal and business consulting services.”
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‘Enforcement 40’ for 2020
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