Big Law

AriseBank former executives to pay $2.7 million for alleged cryptocurrency scam

AriseBank’s former CEO and COO will pay a $2.7 million settlement to resolve charges by the U.S. Securities and Exchange Commission of engaging in a initial coin offering (ICO) scam.

The SEC alleges Jared Rice Sr., AriseBank’s former CEO and Stanley Ford, AriseBank’s former COO, sold and marketed “unregistered investments” with their “AriseCoin” cryptocurrency.

Read the source article at Legal Newsline

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