Illegal Securities Offering.pdf

SEC-v.-Paragon-Coin.pdf
Preview of illegal securities offering
🔗 Source: cdn.crowdfundinsider.com
📊 Size: 231 KB
👤 Author: U.S. Securities and Exchange Commission
⬇️ Downloads: 167

Summary

The Securities and Exchange Commission (SEC) instituted cease-and-desist proceedings against Paragon Coin, Inc. for violating Sections 5(a) and 5(c) of the Securities Act by offering and selling digital tokens (PRG tokens) without registration or exemption. Paragon, an online entity, raised approximately $12 million from August 2017 to October 2017 to develop and implement blockchain technology in the cannabis industry. The SEC found that PRG tokens were securities, and Paragon's actions constituted an unregistered securities offering, as investors had a reasonable expectation of profit based on Paragon's efforts to increase the token's value.

Description

The Securities and Exchange Commission (SEC) instituted cease-and-desist proceedings against Paragon Coin, Inc.

Technical Information

  • File Format: PDF
  • File Size: 231 KB
  • Pages: 13
  • Language: EN
  • Author: U.S. Securities and Exchange Commission
  • Total Downloads: 167
  • Last Updated: 1 month ago

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This PDF document about illegal securities offering provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into illegal securities offering.

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