December 13, 2018 BY Valentina Kirilova
AriseBank's former execs pay $2.7 million to settle ICO scam charges
The Securities and Exchange Commission (SEC) has announced that the federal court has fined AriseBank’s two former execs nearly $2.7 million. Former CEO Jared Rice Sr. and then-COO Stanley Ford were accused of offering and selling unregistered investments in their purported “AriseCoin” cryptocurrency. The allegedly fraudulent initial coin offering (ICO) scheme was stopped by the SEC earlier…
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