Lara Shalov Mehraban, Associate Regional Director of the New York Regional Office commented:
Our emergency action protected retail investors from Telegram’s attempt to flood the markets with securities sold in an unregistered offering without providing full disclosures concerning their project. The remedies we obtained provide significant relief to investors and protect retail investors from future illegal offerings by Telegram.
Telegram Group did not admit or deny SEC’s allegations, however the company agreed to return $1.2 billion to the investors from the profits from selling Grams. The company also agreed to pay $18.5 million civil penalty. As part of the settlement, the next three years Telegram Group is required to give notice to the SEC before participating in the issuance of any digital assets.
The post Telegram agrees to pay over $1.2 billion in settlement over its digital token Grams appeared first on LeapRate.
,
