This document is a criminal complaint and affidavit in support of an arrest warrant against Maksim Zaslavskiy. It alleges that from July 2017 to October 2017, Zaslavskiy conspired to commit securities fraud related to two companies he owned called REcoin and Diamond. Specifically, it alleges that through material misrepresentations, Zaslavskiy fraudulently raised over $300,000 from investors for supposed investments in digital tokens from the ICOs of these companies, when in fact the tokens were securities that were offered and sold without registration. The affidavit provides background on ICOs and securities, describes REcoin and Diamond and their fraudulent activities, and outlines the SEC complaint against Zaslavskiy alleging similar
Insurance Technology (insurtech) startup quarterly highlights. Includes a sector summary, recent events, and a deep dive into health insurance startups. Contact info@venturescanner.com or visit www.venturescanner.com to learn more about our startup research platform!
Week 7 - Legal Issues in Blockchain and CryptocurrenciesRoger Royse
Instructor: Roger Royse, Founder of Royse Law Firm
Course Title: The Business Basics of Blockchain, Cryptocurrencies, and Tokens
Location: Stanford Continuing Studies
Week: 7 (of 7)
The seventh session will examine legal issues in blockchain applications. We will discuss the legal structure of an initial coin or security coin offering (ICO) in the US and globally, including the rules governing the sale of securities in the US. We will overview patent and intellectual property (IP) issues in blockchain and licensing agreements that provide protection to inventors while making resources available for open innovation.
A storm of regulation is descending on the world of cryptocurrencies. One of the issues that will soon be sorted out in court is this question. Are your crypto tokens securities?
https://youtu.be/fyC96ZYLpBk
Insurance Technology (insurtech) startup quarterly highlights. Includes a sector summary, recent events, and a deep dive into health insurance startups. Contact info@venturescanner.com or visit www.venturescanner.com to learn more about our startup research platform!
Week 7 - Legal Issues in Blockchain and CryptocurrenciesRoger Royse
Instructor: Roger Royse, Founder of Royse Law Firm
Course Title: The Business Basics of Blockchain, Cryptocurrencies, and Tokens
Location: Stanford Continuing Studies
Week: 7 (of 7)
The seventh session will examine legal issues in blockchain applications. We will discuss the legal structure of an initial coin or security coin offering (ICO) in the US and globally, including the rules governing the sale of securities in the US. We will overview patent and intellectual property (IP) issues in blockchain and licensing agreements that provide protection to inventors while making resources available for open innovation.
A storm of regulation is descending on the world of cryptocurrencies. One of the issues that will soon be sorted out in court is this question. Are your crypto tokens securities?
https://youtu.be/fyC96ZYLpBk
Ukrainian Law Firms 2018. A Handbook for Foreign Clients
http://ukrainianlawfirms.com/ukrainian-law-firms-2018-a-handbook-for-foreign-clients-is-now-available-in-print/
\\ 14:00
|| Blockchain Law 101 - Is the U.S. Open for Business?
||
|| Alexandra Levin Kramer, N Esq.
|| Partner Founding Chair, Blockchain Technology
|| & Digital Currency CKR Law LLP New York
//
Coin token ico, What are Token sales or Initial Coin Offerings? What are the risks or open questions? 10. unite.un.org/techevents. An example: Initial Coin Offering (ICO). 11. Much like an IPO, an ICO is an unregulated way to raise money for business purposes. The company creates digital tokens in cryptocurrencies.
Living in a Post-Morrison World: NAPPA Working GroupReed Kathrein
Edited and coordinated by Adam Franklin, General Counsel of Colorado PERA and Catherine LaMarr, General Counsel of the office of the State Treasurer of Connecticut, this Working Paper analyzes the landscape of securities litigation post the U.S. Supreme Courts decision in Morrison v. National Bank of Australia Ltd. (2010). Due to Morrison, investors no longer have the protection of the U.S. securities laws if the securities were purchased on a foreign exchange. Reed Kathrein was a contributing member and primarily drafted the chapters on the state of securities litigation in Australia, Germany and South Korea. The project was commissioned by Greg Smith, then General Counsel of ColoradoPERA, as President of the National Association of Public Pension Attorneys ("NAPPA").
Edited and coordinated by Adam Franklin, General Counsel of Colorado PERA and Catherine LaMarr, General Counsel of the office of the State Treasurer of Connecticut, this Working Paper on the analyzes the landscape of securities litigation post the U.S. Supreme Courts decision in Morrison v. National Bank of Australia Ltd. (2010). Due to Morrison, investors no longer have the protection of the U.S. securities laws if the securities were purchased on a foreign exchange. Reed Kathrein was a contributing member and primarily drafted the chapters on the state of securities litigation in Australia, Germany and South Korea. The project was commissioned by Greg Smith, then General Counsel of ColoradoPERA, as President of the National Association of Public Pension Attorneys ("NAPPA").
Coffey vs.Ripple Labs Class Action LawsuitJeff Martinez
Taylor-Copeland Law, a firm focused on blockchain and crypto litigation, filed the Ripple lawsuit in California court 5-3-2018 on behalf of Ryan Coffee and other Ripple investors. They allege that Ripple made money by breaking state and federal securities laws and purposefully misleading the public.
United states securities_and_exchange_v_middleton_et_al__nyedce-19-04625__0001.0Hindenburg Research
SEC files emergency action to stop the founders of VERI tokens from dissipating the remaining $8 million of allegedly fraudulently raised crypto proceeds
Coin token ico really only have one utility — to act as simple stores of value with limited-to-no other functionality. By “simple” value, I mean value not represented or manifested through a variety of dynamic functions. Tokens are a completely different breed all together. They can store complex, multi-faceted levels of value. Forget everything you know about bitcoin and pre-mined coins and that entire ilk of tech, Ethereum tokens are generated by a Smart Contract System (SCS), are highly programmable and have multi-functionality because of it. They transcend being just a coin, and through their array of functions become something much more — “tokens”. Technically, they are not “offered”, they are “generated”. Probably the most accurate phrase of what’s going on during an Ethereum token launch is to describe it as a “Token Generation Event”, but I’m not sure TGE has the same flare as ICO. Nevertheless, a coin does one thing, and a token can do many things
During the recently completed third quarter of 2017, the Department of Justice resolved one matter and the Securities and Exchange Commission resolved two matters. While this was a slow quarter in terms of the number of enforcement actions, the financial impact was significant as the Telia global settlement involved financial penalties and disgorgement of approximately $965 million to be allocated between U.S., Dutch, and Swedish authorities.
BITCOIN IS MONEY, RULES NEW YORK FEDERAL JUDGESteven Rhyner
To be {money|cash}, {or not|or otherwise} to be {money|cash}? That is the {question|concern|inquiry} when it {comes to|concerns|pertains to|involves} Bitcoin. {Many people|Lots of people|Many individuals} {around the world|worldwide|around the globe|all over the world} have {a very|an extremely|a really} {vague|unclear|obscure} understanding of {what|exactly what|just what} {money|cash} {actually|really|in fact} is, {and|as well as|and also} this {can|could} {certainly|definitely|absolutely} {extend to|encompass|reach|include} the {judges|courts} at {federal|government} {levels|degrees}, {who|that} are {now|currently} {having to|needing to} {wrestle with|duke it out} this {definition|meaning|interpretation}
Coin token ico is often used to describe Ethereum token launches. But coins and tokens are two very different things…
Coin token ico — Initial Coin Offering — is a term created to describe the many bitcoin clones and other “coin” clones that erupted over the years. Bitcoin is basically a distributed ledger that performs best as digital money — a simple example of the power of decentralization. Satoshi Nakamoto’s consensus process is revolutionary! But you can’t build much with it. Ethereum can do what Bitcoin does
Initial Coin Offerings – legal requirements and types of tokensEspeo Software
Evaluation of the legal nature of projects funded with ICOs is extremely important to define the legal and tax characteristics of tokens. The legal qualification of a token has practical implications for the legal status of its creator, token trading rules and other entities (buyers of tokens or intermediaries in their trade). Presentation will focus on legal types of tokens, specific requirements for ICO’s promoters and attitude of regulatory authorities towards token crowdsales in individual countries.
Smart contracts offer the potential to bring greater automation and efficiency to the derivatives market. But can a derivatives contract ever be fully automated? Will smart contracts take the place of paper contracts? ISDA’s Ciarán McGonagle explores the issues.
Ukrainian Law Firms 2018. A Handbook for Foreign Clients
http://ukrainianlawfirms.com/ukrainian-law-firms-2018-a-handbook-for-foreign-clients-is-now-available-in-print/
\\ 14:00
|| Blockchain Law 101 - Is the U.S. Open for Business?
||
|| Alexandra Levin Kramer, N Esq.
|| Partner Founding Chair, Blockchain Technology
|| & Digital Currency CKR Law LLP New York
//
Coin token ico, What are Token sales or Initial Coin Offerings? What are the risks or open questions? 10. unite.un.org/techevents. An example: Initial Coin Offering (ICO). 11. Much like an IPO, an ICO is an unregulated way to raise money for business purposes. The company creates digital tokens in cryptocurrencies.
Living in a Post-Morrison World: NAPPA Working GroupReed Kathrein
Edited and coordinated by Adam Franklin, General Counsel of Colorado PERA and Catherine LaMarr, General Counsel of the office of the State Treasurer of Connecticut, this Working Paper analyzes the landscape of securities litigation post the U.S. Supreme Courts decision in Morrison v. National Bank of Australia Ltd. (2010). Due to Morrison, investors no longer have the protection of the U.S. securities laws if the securities were purchased on a foreign exchange. Reed Kathrein was a contributing member and primarily drafted the chapters on the state of securities litigation in Australia, Germany and South Korea. The project was commissioned by Greg Smith, then General Counsel of ColoradoPERA, as President of the National Association of Public Pension Attorneys ("NAPPA").
Edited and coordinated by Adam Franklin, General Counsel of Colorado PERA and Catherine LaMarr, General Counsel of the office of the State Treasurer of Connecticut, this Working Paper on the analyzes the landscape of securities litigation post the U.S. Supreme Courts decision in Morrison v. National Bank of Australia Ltd. (2010). Due to Morrison, investors no longer have the protection of the U.S. securities laws if the securities were purchased on a foreign exchange. Reed Kathrein was a contributing member and primarily drafted the chapters on the state of securities litigation in Australia, Germany and South Korea. The project was commissioned by Greg Smith, then General Counsel of ColoradoPERA, as President of the National Association of Public Pension Attorneys ("NAPPA").
Coffey vs.Ripple Labs Class Action LawsuitJeff Martinez
Taylor-Copeland Law, a firm focused on blockchain and crypto litigation, filed the Ripple lawsuit in California court 5-3-2018 on behalf of Ryan Coffee and other Ripple investors. They allege that Ripple made money by breaking state and federal securities laws and purposefully misleading the public.
United states securities_and_exchange_v_middleton_et_al__nyedce-19-04625__0001.0Hindenburg Research
SEC files emergency action to stop the founders of VERI tokens from dissipating the remaining $8 million of allegedly fraudulently raised crypto proceeds
Coin token ico really only have one utility — to act as simple stores of value with limited-to-no other functionality. By “simple” value, I mean value not represented or manifested through a variety of dynamic functions. Tokens are a completely different breed all together. They can store complex, multi-faceted levels of value. Forget everything you know about bitcoin and pre-mined coins and that entire ilk of tech, Ethereum tokens are generated by a Smart Contract System (SCS), are highly programmable and have multi-functionality because of it. They transcend being just a coin, and through their array of functions become something much more — “tokens”. Technically, they are not “offered”, they are “generated”. Probably the most accurate phrase of what’s going on during an Ethereum token launch is to describe it as a “Token Generation Event”, but I’m not sure TGE has the same flare as ICO. Nevertheless, a coin does one thing, and a token can do many things
During the recently completed third quarter of 2017, the Department of Justice resolved one matter and the Securities and Exchange Commission resolved two matters. While this was a slow quarter in terms of the number of enforcement actions, the financial impact was significant as the Telia global settlement involved financial penalties and disgorgement of approximately $965 million to be allocated between U.S., Dutch, and Swedish authorities.
BITCOIN IS MONEY, RULES NEW YORK FEDERAL JUDGESteven Rhyner
To be {money|cash}, {or not|or otherwise} to be {money|cash}? That is the {question|concern|inquiry} when it {comes to|concerns|pertains to|involves} Bitcoin. {Many people|Lots of people|Many individuals} {around the world|worldwide|around the globe|all over the world} have {a very|an extremely|a really} {vague|unclear|obscure} understanding of {what|exactly what|just what} {money|cash} {actually|really|in fact} is, {and|as well as|and also} this {can|could} {certainly|definitely|absolutely} {extend to|encompass|reach|include} the {judges|courts} at {federal|government} {levels|degrees}, {who|that} are {now|currently} {having to|needing to} {wrestle with|duke it out} this {definition|meaning|interpretation}
Coin token ico is often used to describe Ethereum token launches. But coins and tokens are two very different things…
Coin token ico — Initial Coin Offering — is a term created to describe the many bitcoin clones and other “coin” clones that erupted over the years. Bitcoin is basically a distributed ledger that performs best as digital money — a simple example of the power of decentralization. Satoshi Nakamoto’s consensus process is revolutionary! But you can’t build much with it. Ethereum can do what Bitcoin does
Initial Coin Offerings – legal requirements and types of tokensEspeo Software
Evaluation of the legal nature of projects funded with ICOs is extremely important to define the legal and tax characteristics of tokens. The legal qualification of a token has practical implications for the legal status of its creator, token trading rules and other entities (buyers of tokens or intermediaries in their trade). Presentation will focus on legal types of tokens, specific requirements for ICO’s promoters and attitude of regulatory authorities towards token crowdsales in individual countries.
Similar to United States vs. Maksim Zaslavskiy (20)
Smart contracts offer the potential to bring greater automation and efficiency to the derivatives market. But can a derivatives contract ever be fully automated? Will smart contracts take the place of paper contracts? ISDA’s Ciarán McGonagle explores the issues.
Joint report on regulatory sandboxes and innovation hubs🌍 Norbert Gehrke
The European Supervisory Authorities (ESAs) published today a joint report on innovation facilitators (regulatory sandboxes and innovation hubs). The report sets out a comparative analysis of the innovation facilitators established to date within the EU. The ESAs also set out best practices for the design and operation of innovation facilitators.
The number of innovation facilitators in the EU has grown rapidly in recent years. As at the date of the report, 21 EU Member States and 3 EEA States have established innovation hubs and 5 EU Member States have regulatory sandboxes in operation. A comparative analysis of these national innovation facilitators is set out in the report and, based on this analysis, a set of best practices has been prepared. The best practices are intended to: (i) promote consistency across the single market in the design and operation of innovation facilitators; (ii) promote transparency of regulatory and supervisory policy outcomes from arising from interactions in the context of innovation facilitators; and (iii) facilitate cooperation between national authorities, including consumer and data protection authorities.
The ESAs also set out options, to be considered in the context of future EU-level work on innovation facilitators, to promote coordination and cooperation between innovation facilitators which would support the scaling-up of FinTech across the single market.
English Version: Japan FSA New Crypto Currency Exchange Registration Form🌍 Norbert Gehrke
This is an automatic translation of the Japan FSA new crypto currency exchange application, generated by taking the original document and converting it with Microsoft Translate. It is not perfect, but for those not fluent in Japanese, should provide enough information to judge on the complexity of the requirements when filing for a new exchange.
Japan FSA 4th Study Group on Virtual Currency Exchanges - Gary Gensler🌍 Norbert Gehrke
The minutes of the 4th "Study Group on Virtual Currency Exchanges", which took place on June 15, 2018, have been published recently. At this meeting, through video call, the participants included:
Joichi Ito, Director of Massachusetts Institute of Technology Media Laboratory
Gary Gensler, previously Chairman of the Commodity Futures Trading Commission (CFTC)
Sagar Sarbhai, Head of Government & Regulatory Relations, APAC & Middle East at Ripple
These are the slides supporting Sagar Sarbhai's presentation
Japan FSA 4th Study Group on Virtual Currency Exchanges - Gary Gensler🌍 Norbert Gehrke
The minutes of the 4th "Study Group on Virtual Currency Exchanges", which took place on June 15, 2018, have been published recently. At this meeting, through video call, the participants included:
Joichi Ito, Director of Massachusetts Institute of Technology Media Laboratory
Gary Gensler, previously Chairman of the Commodity Futures Trading Commission (CFTC)
Sagar Sarbhai, Head of Government & Regulatory Relations, APAC & Middle East at Ripple
These are the slides supporting Gary Gensler's presentation
Advanced Blockchain AG - Shareholder Meeting August 16, 2018🌍 Norbert Gehrke
Advanced Blockchain AG (ABAG) is Germany's first and only publicly listed blockchain company (Duesseldorf stock exchange). During an informal briefing at our annual shareholder meeting, we presented an overview of our offerings and vision for the company.
We have curated this list of Japanese FinTech companies with a relative broad definition of “FinTech” in mind, also with the objective to introduce you to a number of companies that you might not have come across so far (so we have intentionally not included famous ones like bitflyer or Moneytree in this list). If you happen to know a company that starts with “Y”, please do let us know!
The New York University (NYU) School of Professional Studies (SPS) in Tokyo is looking for a Director who will lead the recently launched Global Executive Certificates, in addition to other strategic and programmatic goals for Japan.
The New York University (NYU) School of Professional Studies (SPS) in Tokyo is looking for an Assistant Director who will be tasked with supporting the academic offerings of professional development and English-language programs at NYUSPS Tokyo. Responsibilities include, but are not limited to, overseeing course delivery and operations, supporting faculty recruitment and onboarding, facilitating student recruitment and enrollment efforts, and contributing to the daily administration of programs at NYUSPS Tokyo. This position reports directly to the Director, NYUSPS Tokyo.
This is he Hyperledger deck that Brian Behlendorf presented at the meetup in Tokyo, it has many useful links to other Hyperledger resources for you to explore.
The 20 largest OECD countries have a combined public pension deficit of $78 Trillion. Many large corporate pension schemes are likewise significantly underfunded.
With over 44% of men and 55% of women now expected to live into their 90s, many consumers will outlive their private savings by 5 years and some by at least 10 years.
Current retirement income products such as life annuities are unpopular due to low returns mostly caused by the high costs charged by Insurers, which act as centralized “guarantors".
We propose a solution to the costly central guarantor problem by using our patent pending peer-to-peer tontine pensions administered by an unbiased, mathematically robust smart-actuary which ensures that the pension is ALWAYS fully funded. And because tontine pensions provide lifetime income without requiring a guarantor, they significantly reduce the cost of providing pension benefits and thus significantly increase the income paid out to retirees.
Tontines are a 365-year-old financial innovation which successfully financed many European
countries and states as well as numerous private projects such as roads, bridges and hotels. They make periodic payouts shared among their members for as long as they live. In later years, as the number of surviving members declines, the payout per-member rises, often dramatically.
Tontines were first offered in the US in 1868 by insurance companies and they were wildly successful. Over 50% of households invested the modern equivalent of $170Bn before Insurer malpractice caused sales to halt after a 1906 investigation revealing improper uses of capital as well as tampering with the ledger of members which undermined trust in the whole process.
In the century long absence of the tontines, retirement savings rates have plummeted.
2009 saw the emergence of distributed ledger technologies for immutable financial record-keeping which creates a new form of pseudonymous trust between users based upon math.
As such, consumers can now safely and collectively self-insure the financial risks of living longer by entering into secure, low-cost peer-to-peer tontines.
This paper proposes a fully regulated peer-to-peer tontine issuing ecosystem which can offer:
• greater financial benefits payouts to the hundreds of millions of global consumers spending ~$350BN per year on retirement income solutions,
• a digital currency which incentivizes IFAs and RIAs to take no-load tontines to their clients, and
• an un-biased, self-correcting, autonomous smart-actuary which can be trusted to ensure the tontine pension is ALWAYS fully funded and always acts in the best interest of the members.
Slides leveraged from EOS London Developers' Meetup a few days earlier. David Packham argues that EOS is one of the most promising third-generation blockchain/distributed ledger technologies yet to hit the market. With the release scheduled for mid-year, we would like to create some awareness about the project in Japan, and also discuss one of the many ecosystem projects that are being proposed on top of EOS, Chintai as a platform for token leasing.
Kevin is an IOTA Evangelist, going "beyond blockchain" for the Internet of Things (IoT). IOTA's Tangle does not have blocks, mining or fees, and is quantum computing resistant.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
NO1 Uk Rohani Baba In Karachi Bangali Baba Karachi Online Amil Baba WorldWide...Amil baba
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NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
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The new type of smart, sustainable entrepreneurship and the next day | Europe...
United States vs. Maksim Zaslavskiy
1. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 1 of 14 PageID #: 1
•
JMK/JN
F. #2017R01809
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK
------------------------------X
UNITED STATES OF AMERICA
- against -
MAKSIM ZASLAVSK.IY,
Defendant.
------------------------------X
EASTERN DISTRICT OF NEW YORK, SS:
17M934
To Be Filed Under Seal
COMPLAINT AND AFFIDAVIT IN
SUPPORT OF APPLICATION FOR
ARREST WARRANT
(18 u.s.c. §§ 371)
JON LIRO, being duly sworn, deposes a;nd says ~hat he is a Special Agent with
the Federal Bureau of Investigation ("FBI"), duly appointed according to law and acting as such.
Upon information and belief, in or about and between July 2017 and October
2017, both dates being approximate and inclusive, within the Eastern District ofNew York and
elsewhere, the defendant MAKSIM ZASLAVSK.IY, together with others, did knowingly and
willfully conspire to use and employ manipulative and deceptive devices and contrivances,
contrary to Rule 1Ob-5 ofthe Rules and Regulations ofthe United States Securities and
Exchange Commission, Title 17, Code ofFederal Regulations, Section 240.lOb-5, by: (a)
employing devices, schemes and artifices to defraud; (b) making untrue statements ofmaterial
fact and omitting to state material facts necessary in order to make the statements made, in light
ofthe circumstances under which they were made, not misleading; and (c) engaging in acts,
practices and courses ofbusiness which would and did operate as a fraud and deceit upon
investors and potential investors in REcoin Group Foundation, LLC ("REcoin") and DRC
World, Inc., also known as Diamond Reserve Club ("Diamond") (collectively the "Companies),
2. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 2 of 14 PageID #: 2
in connection with the purchase and sale of"tokens" or "coins" in the Companies, directly and
indirectly, by use ofmeans and instrumentalities ofinterstate commerce and the mails, contrary
to Title 15, United States Code, Sections 78j(b) and 78ff. In furtherance ofthe conspiracy and
to effect its objects, within the Eastern District ofNew York and elsewhere, the defendant
MAKSIM ZASLAVSKIY, together with others~ committed and caused to be committed overt
acts as described herein.
(Title 18, United States Code, Sections 371 and 3551 et seq.)
INTRODUCTION
The source ofyour deponent's information and the grounds for his beliefare as
follows:
1. I have been a Special Agent with the FBI for approximately one and a half
years. I am currently assigned to an FBI squad which investigates securities fraud, wire fraud
and other financial crimes. During my tenure with the FBI, I have participated in numerous
financial fraud investigations and have participated in all aspects ofinvestigations, including
conducting surveillance, executing search warrants, debriefing defendants and informants,
interviewing witnesses, reviewing and analyzing recorded conversations and analyzing telephone
toll information. During the course ofthese investigations, I have served as the lead investigator
in the investigation and prosecution ofpersons involved in securities fraud, among other crimes. .
2. I have personally participated in the investigation ofsecurities fraud
conspiracy by the defendant MAKSIM ZASLAVSKIY, among others, as discussed below. I
am familiar with the facts and circumstances ofthis investigation from, among other things:
(a) my personal participation in this investigation, (b) discussions with other law enforcement
agents involved in this investigation, (c) my review ofbank records and public records, among
2
3. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 3 of 14 PageID #: 3
other sources ofevidence, and (d) my review ofthe defendant's testimony before the United
Stat~s Securities and Exchange Commission ("SEC").
3. Except as explicitly set forth below, I have not distinguished in this
affidavit between facts ofwhich I have personal knowledge and facts ofwhich I learned from
other law enforcement agents. Because this affidavit is being submitted for the limited purpose
ofestablishing probable cause to arrest the defendant MAKSIM ZASLAVSKIY, I have not set
forth each and every fact learned during the course ofthis investigation. Instead, I have set forth
only those facts that I believe are necessary to establish probable cause for the arrest warrant
sought herein. In addition, where the contents ofdocuments, or the actions, statements and
conversations ofothers are reported herein, they are reported in sum and substance and in part,
except where otherwise indicated.
PROBABLE CAUSE
I. Background
A. Relevant Regulatory Principles and Definitions
4. The term "Initial Coin Offering" or "ICO" is a fundraising event during
which an entity offers participants a unique "coin" or "token" in exchange for consideration.
The consideration often comes in the form of"virtual currency" or "crypto currency." ICOs are
typically announced and promoted through the internet and e-mail. Issuers usually release a
"whitepaper" describing the project and the terms ofthe ICO. In order to participate in the ICO,
investors are generally required to transfer funds to the issuer. After the completion ofthe ICO,
the issuer will distribute its unique "coin" or "token" to the participants. The tokens may entitle
its holders to certain rights related to a venture underlying the ICO, such as rights to profits,
shares ofassets, rights to use certain services provided by the issuer, and/or voting rights. These
3
4. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 4 of 14 PageID #: 4
tokens may also be listed on online platforms, often called virtual currency exchanges, and be
tradable for virtual currencies.
5. The term "virtual currency" is defined as a digital representation ofvalue
that can be digitally traded and functions as (1) a medium ofexchange; and/or (2) a unit of
account; and/or (3) a store ofvalue, but does not have legal tender status. In other words, virtual
currency is not issued by any jurisdiction and functions only by agreement within the community
ofusers ofthat particular currency. Examples of virtual currency are Bitcoin and Ethereum.
6. The term "security" is defined under Section 2(a)(l) ofthe Securities Act
and Section 3(a)(l0) ofthe Exchange Act as an "investment contract." An "investment
contract" is an investment ofmoney in a common enterprise with a reasonable expectation of
profits to be derived from the entrepreneurial or managerial efforts ofothers. Pursuant to
Sections 5(a) and 5(c) ofthe Securities Act, a company or individual conducting an offer or sale
ofsecurities to the public must file a registration statement with the SEC.
B. The Defendant and Relevant Entities
7. The defendant MAKSIM ZASLAVSKIY, a resident ofBrooklyn, New
York, was the sole owner ofREcoin, a company that issued virtual currency that was purportedly
backed by investment in real estate. The defendant MAKSIM ZASLAVSKIY was also the sole
owner ofDiamond, a company that issued virtual currency that was purportedly backed by
investment in diamonds. From approximately July 2017 to October 2017, the defendant
MAKSIM ZASLAVSKIY fraudulently raised at least $300,000 from investors through various
material misrepresentations and deceptive acts relating to supposed investments in digital
"tokens" or "coins" offered by REcoin and Diamond during their respective ICO processes.
4
5. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 5 of 14 PageID #: 5
8. REcoin, with its purported principal place ofbusiness in Las Vegas,
Nevada, was a limited liability company organized in or about July 2017 in Nevada. REcoin
purportedly engaged in the business ofinvesting in real estate and developing real estate-related
"smart contracts." REcoin was run by the defendant MAKSIM ZASLAVSKIY along with the
help ofothers. In or about July 2017, REcoin, through the defendant MAKSIM
ZASLAVSKIY, its sole owner, conducted an ICO, in which REcoin made generalized
solicitations seeking investment using statements posted on the Internet and distributed
throughout the world~ including in the United States. In order to carry out the ICO, REcoin
launched a website, https://lOlrecoin.com, which marketed REcoin as the "First Ever
Cryptocurrency Backed by Real Estate." REcoin offered to sell and sold unregistered securities
to the general public.
9. Diamond, a corporation with its purported principal place ofbusiness in
Puerto Rico, was incorporated in or about September 2017 in Puerto Rico. Diamond was run by
the defendant MAKSIM ZASLAVSKIY along with the help ofothers. Diamond purportedly
engaged in the business of investing in diamonds and obtaining discounts with product retailers
for individuals who purchased memberships in Diamond. In or about August, 2017, Diamond
announcedthe start ofa purported Initial Membership Offering ("IMO"), which as alleged
below, for all intents and purposes functioned as an ICO, for September 2017. As part ofthe
ICO process, Diamond promised investors "a range ofopportunities," and "access to more online
and offline platforms." According to a Facebook post, membership in Diamond was to be
"tokenized through Diamond Reserve Coin, which [was] hedged by real physical diamonds." In
order to carry out the ICO, Diamond launched a website, http://drc.world, through which
Diamond offered to sell and sold unregistered securities to the general public. A GoDaddy.com
5
6. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 6 of 14 PageID #: 6
domain name search in or about October 2017 revealed that the registrant name associated with
the Diamond website is "MaksiM Zaslavskiy," and the registration address is listed as "2729 E
23rd St, Brooklyn, New York 11235."
C. The SEC Complaint
4. On or about September 20, 2017, the defendant MAKSIM ZASLAVSK.IY
provided testimony to the SEC regarding his participation in the REcoin and Diamond ICOs.
5. On September 29, 2017, the SEC filed a civil complaint ("the SEC
Complaint") in the Eastern District ofNew York charging REcoin, Diamond and the defendant
MAKSIM ZASLAVSK.IY with, inter alia, securities fraud, in violation ofSection l 7(a)(l)-(3) of
the Securities Act of 1933 (15 U.S.C. 18 U.S.C. § 77q(a)(l)-(3)), Section lO(b) ofthe Securities
Exchange Act of 1934 (15 U.S.C. 18 U.S.C. § 78j(b)) and Rule 10b-5(a)-(c) (17 C.F.R. §
240.10b-5(a)-(c)), and engaging in the unlawful offer and sale ofsecurities, in violation of
Sections 5(a) and 5(c) of the Securities Act (15 U.S.C. 18 U.S.C. §§ 77e(a), 77e(c)). See United
States Securities and Exchange Commission v. Recoin Group Foundation, LLC, et al., 17-CV-
5725 (RJD). On the same day, the SEC filed a request for a temporary restraining order
("TRO") in the case. Id.
6. The SEC Complaint alleges that from July 2017 to present, the defendant
MAKSIM ZASLAVSK.IY, together with others, utilized material misrepresentations and
deceptive acts related to supposed investments in digital "tokens" or "coins" offered by REcoin
and Diamond during the companies' respective ICOs. The complaint further alleges that the
ICOs were illegal offerings of securities for which no registration statement was filed and as to
which no exemption from registration was available. The TRO sought to restrain the defendant
MAKSIM ZASLAVSK.IY, and others, from continuing to solicit and to raise funds under the
6
7. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 7 of 14 PageID #: 7
guise ofselling "memberships" in Diamond, which at the time the SEC complaint and TRO were
filed was still actively being promoted by the defendant MAKSIM ZASLAVSKIY.
II. The Fraudulent Scheme
A. RECoin
7. In or about July 2017, numerous online advertisements began emerging
marketing REcoin as the virtual currency founded by the defendant MAKSIM ZASLAVSKIY
"backed by real estate investments in developed economies such as the United States, U.K.,
Switzerland, Australia, Canada and Japan." The press releases issued by REcoin provided that
REcoin would be an "easily accessible financial platform through which people from all over the
world can.convert their savings into a real estate backed currency for the potential ofhigh
returns." REcoin was specifically advertised as a virtual currency that unlike other such
currencies was backed by real estate investments.
8. In or about July 2017, a website, https://lOlrecoin.com, marketing REcoin
was launched. The REcoin website prominently featured the defendant MAKSIM
ZASLAVSKIY as the CEO and founder of REcoin. The website also featured four employees
ofREcoin, including in the positions ofmarketing and development. Furthermore, during his
SEC testimony, the defendant MAKSIM ZASLAVSKIY acknowledged that he operated the
REcoin we~site along with a team ofemployees who worked on the project. Throughout his
SEC testimony the defendant MAKSIM ZASLAVSKIY referred to his work with other
individuals, many ofwhom are based in the Ukraine, in running REcoin.
9. Similar to the online advertisements, the website described REcoin as the
"First Ever Cryptocurrency Backed by Real Estate." The website allowed purchasers to buy
REcoin using their credit card, virtual currency or through online funds transfer services such as
7
8. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 8 of 14 PageID #: 8
PayPal and Stripe, which permit users to purchase goods and services from websites and mobile
applications using the methods stored in that user's account, such as their credit cards or direct
debit bank accounts. The investments offered during the REcoin ICO were "securities" within
the meaning ofSection 2(a)(l) ofthe Securities Act (15 U.S.C. § 77b(a)(l)) and Section 3(a)(l0)
ofthe Exchange Act (15 U.S.C. § 77c(a)(l0)).
10. The REcoin website provided early investors with a 15% discount. The
discount decreased as certain threshold levels oftokens were sold, until the close ofthe ICO, at
which point one token would be sold at one dollar. According to press releases and the
defendant MAKSIM ZASLAVSKIY's statements to the SEC, the REcoin ICO was set to run
from August 7, 2017 through October 9, 2017.
11. The REcoin whitepaper,1
which investors could access from the website,
contained additional statements about the supposed REcoin token, which the whitepaper
described as "an attractive investment opportunity," which "grows in value." The whitepaper
identified the defendant MAKSIM ZASLAVSKIY as the founder ofREcoin. The whitepaper
provided that the coin currency could grow "at least in two ways through the steady increasing
value ofthe real estate investments that REcoin is used to purchase, and a higher REcoin value
when the demand for REcoin rises." The whitepaper touted that "REcoin is led by an
experienced team ofbrokers, lawyers, and developers and invests its proceeds into global real
1
At least two versions ofthe whitepaper have been made available to investors
through the website. The above references the original version made public on the website from
at least July 2017 through at least mid-August 2017. Notably, on or about August 17, 2017,
only two days after the SEC first contacted the defendant MAKSIM ZASLAVSKIY to provide
sworn testimony about the REcoin ICO on August 15, 2017, the REcoin whitepaper including
the false statements outlined herein was substituted on the website for another version. The
second version ofthe whitepaper continued to make some ofthe same misrepresentations to
investors, but eliminated others.
8
9. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 9 of 14 PageID #: 9
estate based on the soundest strategies." The whitepaper also provided the following
guarantees, among others:
(a) "RECoin's activities are in full compliance and governed by
United States law;"
(b) "100% ofour proceeds from REcoin sales minus maintenance
costs are invested into real estate;" and
(c) "The REcoin Purse is secured by the latest cryptocurrency
tools and designed to be user-friendly and convenient."
12. Furthermore, users who wished to invest in REcoin were required to
register on the REcoin website by providing an email address. Once a user did that, he or she
received periodic communications from the defendant MAKSIM ZASLAVSK.IY ("Max
Zaslavskiy from REcoin") using the email address info@lOlreco.in.com. One such
communication announcing Diamond indicated that REcoin raised over $1.5 million in direct
REcoin token purchases during the first three days ofthe presale.
13. According to the defendant MAKSIM ZASLAVSK.IY's statements to the
SEC, approximately 1,000 individuals invested in REcoin tokens since its launch.
14. As set forth herein, the statements made to investors in connection with
the ICO were materially false and misleading, causing investors to buy REcoin tokens. First,
contrary to the defendant MAKSIM ZASLAVSKIY's, and his co-conspirators', false
representations, as outlined above, the defendant MAKSIM ZASLAVSK.IY testified before the
SEC that neither he, REcoin or any ofits employees ever purchased any real estate, either before,
during or after the REcoin ICO. Second, contrary to the pronouncement in the whitepaper that
REcoin was led by an experienced team ofbrokers, lawyers and developers, the defendant
9
10. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 10 of 14 PageID #: 10
MAKSIM ZASLAVSKIY testified before the SEC that he never hired, let alone consulted, any
broker, lawyer or developer to engage in the supposed real estate investments. Third, a counter
near the top ofthe REcoin website stated, as of late August and early September 2017, that over
2.8 million "REC" had been "already purchased." However, based on the defendant M}KSIM
ZASLAVSKIY's own statements to the SEC, REcoin had only obtained approximately $300,000
in funds from investors. Furthermore, while investors transferred funds to the defendant
MAKSIM ZASLAVSKIY, his co-conspirators, and REcoin and received certificates in return
indicating their ownership in REcoin tokens, according to the defendant MAKSIM
ZASLAVSKIY's statem,mts to the SEC, no token or coin for REcoin has ever been developed,
and therefore, investors never received any form ofdigital asset, token or coin.
15. Interviews with investors revealed that individual investors relied on the
representations made by REcoin in its marketing materials, on its website and in its whitepaper,
among other sources, in deciding to make the investment in REcoin. Interviews with investors
revealed that some were particularly influenced to make the investment in REcoin because it was
guaranteed by real estate, which, as described above, was never purchased or seriously explored
by the defendant MAKSIM ZASLAVSKIY or any ofthe REcoin employees.
B. Diamond
16. In or about July 2017, the defendant MAKSIM ZASLAVSKIY, along
with others, began to market Diamond. The marketing materials for Diamond provided that the
"basis for the Diamond Reserve Club tokenized membership is the ownerships ofDiamond
Reserve Coin (DRC), which is hedged by physical diamonds."
17. In or about September 2017, a website, https://drc.world, marketing
Diamond was launched. The Diamond website identified the defendant MAKSIM
. 10
11. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 11 of 14 PageID #: 11
ZASLAVSK.IY as the founder of Diamond. Furthermore, during his SEC testimony, the
defendant MAKSIM ZASLAVSK.IY acknowledged that he operated the Diamond website along
with a team ofemployees who worked on the project. Throughout his SEC testimony the
defendant MAKSIM ZASLAVSK.IY referred to his work with other individuals, many of whom
are based in the Ukraine, in running Diamond. Based on the defendant MAKSIM
ZASLAVSK.IY's SEC testimony, the team running REcoin and Diamond was largely the same.
18. Similar to the REcoin website, the Diamond website contained a link to a
whitepaper for the Diamond ICO. The supposed benefits ofmembership in Diamond were not
clearly defined in the whitepaper, nor in other communications with the potential and actual
investors in Diamond. The Diamond whitepap'er provided that the goals ofthe "Diamond
Reserve Club are: to offer unique opportunities and benefits...; to indefinitely prolong the
lifespan and development ofthe Diamond Reserve Coin to increase its liquidity, visibility,
enhance its credibility worldwide..." The whitepaper proclaimed that the Diamond coin "is
hedged by physical diamonds which are stored in secure locations in the United States and are
fully insured fo~ their value."
19. The Diamond website permitted users to buy Diamond tokens using credit
cards or virtual currency. On or about August 31, 2017, the Diamond website announced the
start ofan IMO. The announcement linked to a Facebook post announcing the Diamond ICO
for September 7, 2017. Diamond tried to distinguish the IMO from an ICO. For example, a
Facebook post stated that "IMO is a brand new instrument offacilitating tokenized membership
in a digital community or a club. Although, it appears to be similar to ICO or IPO, the
similarities are scarce, not nonexistent." However, Diamond was an ICO because it provided
investors with an expectation ofprofits to be derived from the purchase ofdiamonds, and the
11
12. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 12 of 14 PageID #: 12
investments offered during the ICO were "securities" within the meaning of Section 2(a)(l) of
the Securities Act (15 U.S.C. § 77b(a)(l)) and Section 3(a)(10) ofthe Exchange Act (15 U.S.C. §
77c(a)(l0)).
20. A release dated September 11, 2017 on Reddit (the "Reddit Release"),
titled "official statement" by the "founder and CEO ofREcoin," proclaimed the supposed
success ofthe REcoin ICO by reiterating the false statement made in prior releases that, after the
REcoin ICO began on August 7, 2017, "over $1.5 million in direct REcoin token purchases
[were made]." The Reddit Release announced the end ofthe REcoin ICO and the conversion of
a REcoin token into a Diamond token. Potential Diamond ICO investors were offered a
discount similar to the REcoin ICO discount, such that investors purchasing the Diamond token
during the first stage ofthe Diamond ICO would receive a 15% discount. As with the REcoin
ICO, the discount decreased as certain threshold levels oftokens were sold, until the close ofthe
ICO, at which point one token would be sold at one dollar. The Reddit Release stated that
"members" ofthe "club" were "entitled to all the opportunities and benefits they were promised
at the time ofjoining the REcoin community." It went on to offer individuals that invested in
the REcoin ICO either a refund oftheir investment, or the ability to convert their REcoin token
into a Diamond coin at a discount. The release encouraged investors to stay with the project and
stated that the diamonds backing the investment are "especially stored in secure locations in the
United States and fully insured for their full value."
21. Furthermore, just like with REcoin, users who wished to invest in
Diamond were required to register on the Diamond website by providing an email address.
Once a user did that, he or she received periodic communications from the defendant MAKSIM
ZASLAVSKIY ("Max from DRC") using the email address info@drc.world. In these
12
13. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 13 of 14 PageID #: 13
communications, the defendant MAKSIM ZASLAVSKIY, along with others, attempted to
induce investors to purchase the Diamond token by stating, for example, that Diamond "forecast
a minimum growth of 10% to 15% per year." In another email, the defendant MAKSIM
ZASLAVSKIY urged investors to buy Diamond and stated that "negotiations with different
exchanges" were ongoing so that investors could trade Diamond "on external exchanges and
make more profit."
22. According to the defendant MAKSIM ZASLAVSKIY's statements to the
SEC, Diamond has secured approximately $100,000 in individual investment since its launch.
The majority ofthese investments were transferred from REcoin.
23. The statements made to investors in connection with the Diamond ICO
were materially false and misleading. As an initial matter, the Reddit Release began with a false
description ofthe amounts raised during the REcoin ICO. As the defendant admitted in his
testimony to the SEC, he only raised approximately $300,000 from the REcoin ICO, not "over
$1.5 million." Furthermore, according to the defendant MAKSIM ZASLAVSKIY's own
statements to the SEC, neither the defendant MAKSIM ZASLAVSKIY nor Diamond had
purchased any diamonds nor identified any storage locations, as touted in the whitepaper and the
Reddit Release, and there was no insurance taken out on the non-existent diamonds. Similar to
the REcoin ICO, contrary to what was stated in the whitepaper, the Reddit Release and email
communications to investors, the defendant MAKSIM ZASLAVSKIY admitted in his SEC
testimony that no tokens or coins had ever been developed with respect to Diamond, and those
investors who transferred funds to the defendant MAKSIM ZASLAVSKIY, his co-conspirators
and Diamond during the Diamond ICO were given no coins or tokens in return.
III. CONCLUSION
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14. Case 1:17-mj-00934-SJB Document 1 Filed 10/27/17 Page 14 of 14 PagelD #: 14
WHEREFORE, based on the foregoing, your deponent respectfully requests that
an arrest warrant be issued for the defendant MAKSIM ZASLAVSKIY so that he may be dealt
with according to law.
Because public filing of this document could result in a risk of flight by the
defendant MAKSIM ZASLAVSKIY, as well as jeopardize the government's ongoing
investiga6on, your deponent respectfully requests that this complaint, as well as any arrest
warrant issued in connection with this complaint, be filed under seal.
Dated: Brooklyn, New York
October 27, 20 I7
Sworn to before me this
27th day of October, 2017
TH: . ~r-...tT J. BULSARA
UNITE~ lA f ES MAGISTRATE JUDGE
EASTERN DISTRICT OF NEW YORK
14
JONLriiO
Special·Agent, FBI