DOJ Finds REcoin ICO Scammer Guilty Under Security Laws

[kreslik.news]

The United States Department of Justice is continuing its crackdown on cryptocurrency crooks. Late on Thursday afternoon, at a court in the New York borough of Brooklyn, Maksim Zaslavskiy plead guilty to defrauding investors through twoinitial coin offerings (ICOs) – REcoin Group Foundation, LLC (REcoin) and DRC World, Inc., also known as Diamond Reserve Club (Diamond).

Court documents indicate that Zaslavskiy marketed REcoin as a cryptocurrency backed by real estate. In fact, Zaslavskiy had not purchased any real estate and was not even using blockchain to issue the ‘certificates’ that were used to demonstrate ownership in ... (read more)