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SEC Sues Dropil Founders for Fraud After $1.8M Initial Coin Offering

Ramsey Baker

Summary: The founders of Dropil, the cryptocurrency automation developer, have been charged with been charged with unregistered $1.8 million initial coin offering (ICO) of the DROP token. The U.S. Securities and Exchange Commission (SEC) claimed in an announcement on Friday, that Jeremy McAlpine, Zachary Matar and Patrick O'Hara lied about Dropil’s financial status and DROP token ...

The founders of Dropil, the cryptocurrency automation developer, have been charged with been charged with unregistered $1.8 million initial coin offering (ICO) of the DROP token.

The U.S. Securities and Exchange Commission (SEC) claimed in an announcement on Friday, that Jeremy McAlpine, Zachary Matar and Patrick O'Hara lied about Dropil’s financial status and DROP token profitability to their investors, who they also misled by drastically overstating the success of their ICO.

By Ramsey Baker

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Link: SEC Sues Dropil Founders for Fraud After $1.8M Initial Coin Offering   [Copy]
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