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Last updated on September 11th, 2020 at 10:35 pm

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Veritaseum Agrees To Return $8 million Raised In Veritaseum’s ICO To Investors.

Reggie Middleton, the CEO of blockchain company Veritaseum, agreed to return over $8 million raised in Veritaseum’s ICO to investors. 

Reggie also agrees to pay a further $1 million to the state as part of a settlement with the SEC, according to court documents produced by the New York Eastern District Court. 

The settlement with the SEC also “permanently bars” Middleton and Veritaseum from offering digital securities. 

New York Eastern District Court

The settlement is in conclusion of SEC’s claim, filed back in August, that Veritaseum illegally raised $14.8 million in an unregistered securities offering.

Reggie nonetheless assures its users that VeAssets will come back soon on Telegram Group .

We can remember the settlement is similar to SEC’s settlement with Block.one last month. Block.one raised billions in an ICO, which the SEC ruled as  illegal. 

But Block.one, like Veritaseum agrees, neither accepted nor denied the charges, and instead agreed to settle for a fine of $24 million.

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By Tony Chimdiuto

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