The US Securities and Exchange Commission (SEC) appealed to the California District Court with a request to seize more than $16 million from the Russian crypto-portal ICOBox and its founder Nikolay Evdokimov, Finance Feeds reports citing court documents.
The statement said that ICOBox and Evdokimov are accused of illegally offering securities by selling tokens for $14 million and of providing brokerage services without registering for offers of other digital assets.
The SEC believes that ICOBox and Evdokimov should reimburse $14.6 million, as well as pay interest for the period before the court decision in the amount of $1.5 million.
Defendants must transfer the SEC a little over $16 million within 14 days of the decision taking effect. Evdokimov should also be punished with a fine of $189,426.
The SEC accuses ICOBox and Evdokimov of illegally selling the ICOS tokens to more than 2000 investors. ICOS holders were invited to participate in ICOs on the ICOBox platform and buy tokens at reduced prices.
Earlier iHodl reported that the Financial Industry Regulatory Authority (FINRA) fined the US-based fintech company Robinhood $1.25 million for best execution violations related to its customers’ equity orders and related supervisory failures during 2016 — 2017.
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