Considerable cloudiness. Low 24F. Winds SSW at 5 to 10 mph..
Considerable cloudiness. Low 24F. Winds SSW at 5 to 10 mph.
Updated: January 27, 2023 @ 7:54 pm
A collection of bitcoin, litecoin and ethereum tokens sit in this arranged photograph in Danbury, U.K., on Tuesday, Oct. 17, 2017. On Wednesday, billionaire Warren Buffett said on CNBC that most digital coins won’t hold their value.
A collection of bitcoin, litecoin and ethereum tokens sit in this arranged photograph in Danbury, U.K., on Tuesday, Oct. 17, 2017. On Wednesday, billionaire Warren Buffett said on CNBC that most digital coins won’t hold their value.
State officials are going after two cryptocurrency companies they claim defrauded New Hampshire residents.
The Secretary of State’s Bureau of Securities Regulation said Thursday in a news release it has submitted separate staff petitions against Voyager Digital Ltd. and Celsius Network, Inc., along with their subsidiaries and affiliates, accusing both of fraud and selling unregistered securities.
The state claims Voyager offered and sold unregistered securities in the form of purported interest-earning accounts. Investors opened these accounts by transferring fiat currency, cryptocurrency, or other digital assets to Voyager.
“Voyager claimed investors could earn a high-interest return on these deposits and used them to invest in numerous high-risk transactions,” state officials said in a news release. “However, Voyager failed to disclose the nature of this risk to its investors. The company is not a licensed, compliant crypto broker with any of the appropriate regulatory agencies in the U.S. nor publicly traded in the U.S.”
State officials claim Celsius also offered and sold unregistered securities in the form of purported interest earning accounts that investors open by transferring cryptocurrency.
“Celsius claimed investors could earn a high-interest return on these deposits and used these deposits to invest in high-risk transactions,” officials said in a release.
Both companies entered Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of New York in July 2022. The state submitted its bankruptcy claims in both matters, seeking restitution for New Hampshire investors.
The Bureau of Securities Regulation has requested an immediate cease and desist against both companies from fraudulent conduct and selling securities. It is also seeking restitution of any losses incurred by investors as well as the imposition of fines and a bar from future registration by the bureau.
Anyone who has invested in Celsius or Voyager can contact the bureau with questions or concerns by calling 603-271-1463 or emailing securities@sos.nh.gov.
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