On Oct. 1, 2020, Abuchi Okoye and his firm, Coininvest, acquired a cease-and-desist letter from the Arizona Corporation Commission that purchased him to quit supplying and marketing investments in cryptocurrency.
The Commission’s Protection Division alleges that Okoye and Coinvest solicited buyers to obtain cryptocurrency investments as a result of a pirated web-site and social media account. The enterprise seems to be situated in Phoenix, Arizona, but it’s actually managed by an Arizona resident with no link with Coininvest or Okoye, in accordance to a assertion posted on Oct. 2.
The Commission’s Securities Division maintains that Coinvest stole the identification of an Arizona registered securities supplier and misrepresents their imposter web-site, Arcadia-Money.net, as staying a registered supplier.
“As with any expense,” writes the AZCC, “if a promoter ensures returns, if an opportunity appears much too very good to be true, or if you are pressured to act rapidly, remember to exercise intense caution and be mindful of the risk that your expenditure resources may perhaps be dropped.”
Okoye and Coininvest are entitled to a hearing to remedy promises held against them, according to the assertion.
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