The SEC Head line reads: SEC Exposes Two Initial Coin Offerings Purportedly Backed by Real Estate and Diamonds
Yet another example of the fraud and scams peppered throughout the ICO world right now. https://www.sec.gov/news/press-release/2017-185-0 According to the SEC's complaint, investors in REcoin Group Foundation and DRC World (also known as Diamond Reserve Club) have been told they can expect sizeable returns from the companies' operations when neither has any real operations.
Everything looks good in the Crypto World until you pull the covers back and really dig in. Be careful folks. It’s still the wild wild west out there. Make sure you do your due diligence before you invest any anything (Crypto or otherwise)
About the Author: Justin Recla is an Army veteran and former counterintelligence agent who successfully transitioned counterintelligence techniques into the business world. As a corporate counterintelligence consultant, he increases trust and certainty for his clients’ business relationships and founded the Clear Business DirectoryTM as a way to promote transparency in business-to-business transactions.
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