On Monday, the US SEC filed a lawsuit in the District Court of New York. The agency charged three persons who teamed up for the projects Start Options and Bitcoiin2Gen. SEC claims that they defrauded investors of $11.4 M in 2018 by presenting B2G token offering. The asset was shilled by stars, like actor Steven Seagal.
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The three accused are Kristijan Krstic, John DeMarr, and Robin Enos. Kristic was the founder of the projects, DeMArr the promoter, and Enos was operating with DeMarr, providing false elements for advertising.
The SEC announced there were many false statements about B2G tokens. The team said the token worked on Ethereum and was minable, which didn't correspond to reality.
Last year the SEC fined Seagal for promoting the Bitcoiin2Gen token on his Twitter account. The agency found out that the actor was paid for these posts. The token became worthless afterwards.The SEC's complaint is meant to define financial penalties, injunction, and the return of the funds, along with gained interests. Apart from this case, John DeMarr faces accusations filed by the Department of Justice and the US Attorney's Office for the Eastern District of New York.