SEC files emergency action against BKCoin for raising $100M through crypto fraud

The United Securities and Exchange Commission (SEC) has filed an exigency enactment to prehend the assets of Miami-based concern advisor BKCoin Management LLC and its main Kevin Kang for their transportation to a crypto fraud scheme.

In a March 6 press statement, the fiscal regulator said BKCoin raised astir $100 cardinal from 55 investors. SEC added that:

“BKCoin and Kang alternatively utilized immoderate of the wealth to marque Ponzi-like payments and for idiosyncratic use.”

The station SEC files exigency enactment against BKCoin for raising $100M done crypto fraud appeared archetypal connected CryptoSlate.