Centra Tech Co-Founder Gets 8 Years for Crypto Fraud
Centra Tech's co-founder has been sentenced to eight years for conducting an illegal initial coin offering (ICO) that fleeced investors of $25 million.
Three judges from the Court of Appeals for the 11th Circuit have upheld a lower court decision to dismiss a case against the rapper.
The plaintiffs claim Sirin Labs, Stox and Leadcoin didn't fulfill product promises to investors.
But commissioners Elad Roisman and Hester Peirce said the regulator missed the chance to define which touted assets were securities.
The updated proposal adds a number of new reporting requirements for startups.
Alchemist associate Michael Hlady faces up to 20 years in prison.