# SEC Charges Unicoin Execs with Fraud

*Author: Bankless*
*Published: May 21, 2025*
*Source: https://www.bankless.com/de/read/sec-charges-unicoin-execs-with-fraud*

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The SEC has charged Unicoin executives with violating federal securities laws, accusing the project of falsely claiming SEC registration for Unicoin tokens while raising $110 million. The charges highlight alleged misstatements by top leadership, including CEO Alex Konanykhin and General Counsel Richard Devlin, with the latter agreeing to a penalty.

## **What’s the Scoop?**
- **SEC Allegations**: The SEC accuses Unicoin of falsely claiming their tokens and rights certificates were registered and exaggerating fundraising amounts.
- **Executive Charges**: Key leadership, including CEO Alex Konanykhin and former CIO Alex Dominguez, faced charges for alleged antifraud violations.
- **Settlement Reached**: General Counsel Richard Devlin agreed to a penalty of $37,500 without admitting or denying the accusations.
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