{"id":116087,"date":"2020-11-20T05:45:35","date_gmt":"2020-11-20T02:45:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-seeks-judgement-after-no-show-in-9m-meta-1-coin-fraud-case\/"},"modified":"2020-11-20T05:45:35","modified_gmt":"2020-11-20T02:45:35","slug":"sec-seeks-judgement-after-no-show-in-9m-meta-1-coin-fraud-case","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-seeks-judgement-after-no-show-in-9m-meta-1-coin-fraud-case\/","title":{"rendered":"# SEC seeks judgement after ‘no show\u2019 in $9M Meta 1 Coin fraud case"},"content":{"rendered":"

“# SEC seeks judgement after ‘no show\u2019 in $9M Meta 1 Coin fraud case <\/strong>”
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The U.S. Securities and Exchange Commission has requested a default judgment against three companies and four individuals associated with the allegedly fraudulent art and gold-backed cryptocurrency Meta 1 Coin.<\/p>\n

The SEC filed<\/a> its Nov. 18 motion for a default judgment after the defendants failed to app<\/a>ear to put their case, despite having corresponded with both the court and legal representation. The defendants are Meta 1 Coin Trust, Clear International Trust, and Ironheart Trust, and individuals Robert P. Dunlap, Nicole Bowdler, Wanda Traversie-Warner, and Alfred Warner Jr. <\/p>\n

They are accused of defrauding at least 500 investors worldwide out of $9 million in exchange for crypto tokens that Meta 1 Coin allegedly fraudulently represented as being backed by either $1 billion worth of fine art assets or $2 billion worth of gold.<\/p>\n

According to a lawsuit filed by the SEC in March, no fine art collection, gold holdings, or even digital currency ever existed, and investor funds were spent on personal expenses.<\/p>\n

\u201cDefendants enticed investors with the allure of a cryptocurrency, but the securities offering is nothing but a vehicle to steal investors’ money.\u201d<\/p><\/blockquote>\n

Meta 1 allegedly told investors that coins purchased through its pre-initial coin offering would appreciate in value from $22.22 or $44.44 to $50,000 each over two years.<\/p>\n

The complaint also noted that Bowdler claimed to have psychic abilities when attempting to solicit potential investors.<\/p>\n

The SEC is seeking civil penalties, disgorgement, and a permanent injunction against the four individuals and three firms. Relief defendants Pramana Capital Inc. and owner Peter K. Shamoun are not included in the motion and remain in the case. <\/p>\n

Pramana allegedly received $1 million in funds for investment into Meta 1, with Shamoun also accused of using $215,000 to purchase a Ferrari.<\/p>\n