Unicoin Denies SEC’s Fraud Claims, Seeks Dismissal of Lawsuit

TLDR

• Unicoin argues that the SEC distorted its filings to build a case in the $100M fraud lawsuit.
• The company claims the SEC misrepresented its financial projections and communications to mislead the court.
• Unicoin insists that its filings clearly warned investors about potential risks, contradicting the SEC’s claims of fraud.
• The company requests the court to dismiss the SEC’s lawsuit with prejudice to prevent it from being refiled.
• Unicoin disputes the SEC’s assertion that its token was misleadingly portrayed as fully asset-backed.

Crypto investment platform Unicoin has filed a strong rebuttal against the U.S. Securities and Exchange Commission (SEC) in its ongoing fraud lawsuit. The company argues that the SEC distorted its filings to build a case against it. Unicoin claims the SEC’s lawsuit should be dismissed, as it alleges the agency misrepresented key aspects of the company’s communications and disclosures.

Unicoin Refutes SEC’s Claims of Misleading Investors

In its filing, Unicoin sharply criticized the SEC’s interpretation of its financial projections and communications. The company argues that the SEC took snippets of statements out of context to mislead the court. Unicoin’s legal team asserts that the SEC treated routine financial projections and optimism as fraudulent statements. They argue these projections were not meant to deceive investors but to provide clarity about the company’s growth.

The SEC claims that Unicoin raised $100 million by misleading investors about its token and rights certificates. It argues that these certificates conveyed rights to receive Unicoin tokens and stock. However, Unicoin insists that the SEC’s claims are unfounded, as it openly disclosed risks in its communications with investors.

Unicoin also contends that the SEC misunderstood its disclosure about the backing of the Unicoin tokens. The company clarifies that it only indicated that its assets, not the tokens themselves, would be backed by real-world assets. According to the company, the SEC’s claim that Unicoin misrepresented the backing of its token is based on “misinterpretations. ” It also points out that its token was still in development, making any statements about its full collateralization speculative.

Unicoin Seeks Dismissal of SEC Lawsuit with Prejudice

Unicoin has asked the court to dismiss the SEC’s lawsuit with prejudice, which would prevent the agency from refiling the case. The company argues that the SEC’s legal action is based on vague claims and circumstantial evidence. It describes the lawsuit as a

The company also points out that its real estate deals and transactions, which the SEC has cited as evidence of fraud, are still in progress. Unicoin maintains that these transactions do not support the SEC’s fraud claims. The company’s legal team insists that its filings were clear and transparent, and there was no intent to mislead investors.

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