Unicoin says SEC distorted its filings in $100M fraud case

Unicoin has claimed the SEC distorted the company’s filings with the agency to bring its $100 million fraud lawsuit.

Crypto investment platform Unicoin has finally hit back at the Securities and Exchange Commission’s fraud lawsuit after three months, accusing the agency of distorting its regulatory statements to build a case.

Unicoin told a New York federal judge on Wednesday that the SEC’s lawsuit should be dismissed as it “plucks snippets of communications and distorts their meaning and context; treats routine financial projection and optimism as fraud; and ignores Unicoin’s sober warnings about risk.”

“Most bizarrely, the SEC twists Unicoin’s disclosures in the company’s own SEC filings and improperly recasts these disclosures as proof of deception,” it added.

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