Ontario Securities Commission (OSC) Files Lawsuit for $51M Dignity Token Asset Offering
The Ontario Securities Commission (OSC) has filed a lawsuit against Troy Richard James Hogg for selling unregistered securities in an ICO where he raised $51 million. According to a press statement, the OSC alleged that Hogg and his companies, Cryptobontix Inc., Arbitrade Exchange Inc., and Arbitrade Ltd. promoted and sold Dignity tokens.
The regulator continued that Hogg promoted the tokens using false representations, including claiming that Gold Bullion supports the tokens in promotional materials. Hogg also failed to file a prospectus for the token distribution and did not get the necessary registration for the trading activities. Furthermore, it accuses Hogg and the affiliated corporate entities of defrauding investors by using a substantial part of the funds for unrelated purposes, such as buying real estate properties.
Source
https://t.me/Crypto_Bitcoin_Blockchain
