ICYMI: SEC charges Crowd Machine over allegedly unregistered ICO
The Securities and Exchange Commission has charged an Australian man for allegedly making false claims related to an unregistered initial coin offering .
The SEC claims Sproule publicized that the ICO proceeds would go to new technology development for Metavine, enabling the firm to run its app-development software on a decentralized network. Instead, the SEC claims Sproule and Crowd Machine diverted the $5.8 million to gold mining entities in South Africa without alerting investors.
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