SEC Halts Tomahawkcoins ICO on Fraud Allegations

[kreslik.news]

The U.S. Securities and Exchange Commission has halted another fraudulent initial coin offering (ICO), arguing that operators of ‘Tomahawkcoins’ not only violated securities regulations but also made false statements to investors.

According to the agency, David T. Laurance and Tomahawk Exploration LLC received a lifetime officer-director bar, lifetime penny stock bar and an injunction prohibiting them from violating the federal securities laws.

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The top US watchdog alleges that Tomahawk ICO and its principals sought to raise funds from investors by misrepresenting the company as possessing “leases for oil drilling sites” and using “inflated ... (read more)