SEC Says Crypto Wizard Bilked $15M From Investors

Law360 (August 12, 2019, 9:13 PM EDT) -- The U.S. Securities and Exchange Commission filed an "emergency action" against self-styled cryptocurrency guru Reginald Middleton and his Veritaseum Inc. on Monday, alleging he stole millions by promising investors he was on the verge of bringing in "quadrillions" of dollars and putting "brokers, banks and hedge funds" out of business for good.

The SEC said Middleton, who lives in Brooklyn, New York, took in roughly $15 million over the course of 2017 and 2018 by selling "Veri Tokens," the cryptocurrency that Veritaseum exists to support.

The agency said Monday's action is intended to stop Middleton and his company from spending or...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!