Tr?id=566623520170033&ev=PageView&noscript=1

Ä¢¹½´«Ã½

SEC Charges Creator of CoinDeal Crypto Scheme and Seven Others Over $45 Million Fraud

Posted on January 17th, 2023 at 1:57 PM
SEC Charges Creator of CoinDeal Crypto Scheme and Seven Others Over $45 Million Fraud

From the Desk of Jim Eccleston at Ä¢¹½´«Ã½.

The Securities and Exchange Commission (SEC) has changed Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC for their involvement in a fraudulent investment scheme known as CoinDeal, which raised at least $45 million from sales of unregistered securities.

The SEC’s complaint accuses Chandran, Davidson, Glaspie, Knott, and Mossel of falsely claiming that investors would generate extraordinary returns by investing in a blockchain technology, known as CoinDeal, which would purportedly be sold for trillions of dollars to a group of wealthy buyers. Between January 2019 and 2022, Chandran, Davidson, Glaspie, Knott, and Mossel allegedly made several false and misleading statements to investors pertaining to the value of CoinDeal, the parties involved in the purported sale of CoinDeal, and the utilization of investment proceeds, according to the SEC.

The SEC’s complaint alleges that CoinDeal’s sale never occurred while CoinDeal investors never received any distributions. Furthermore, the SEC’s complaint accuses the defendants of using the misappropriated funds to cover personal expenses, including alleging that Chandran used the funds to purchase cars, real estate, and a boat. The SEC’s complaint seeks disgorgement, penalties, and permanent injunctions against each defendant.

Ä¢¹½´«Ã½ LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, advisors, law, sec

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

You were most helpful with my FINRA deposition. You are a good lawyer and a good person.

Dan B.

LATEST NEWS AND ARTICLES

1787157891 Law
August 19, 2026
Former UBS Financial Advisor Suspended and Fined Over Unauthorized Trading Allegations

The Financial Industry Regulatory Authority (FINRA) suspended a former UBS Ä¢¹½´«Ã½alth Management USA broker for three months and fined him $10,000 after finding that he executed hundreds of trades in two customers' accounts without the required written authorization.

1787156982 Law
August 19, 2026
FINRA Suspends Former Gradient Securities Advisor

The Financial Industry Regulatory Authority (FINRA) has suspended former Gradient Securities representative Mark J.

1787070589 Law
August 18, 2026
Senior Protection Case Study: Edward Jones and Senior Investor Safeguards

A recent incident involving Edward Jones illustrates how challenging it may be to employ safeguards for protecting older clients from financial exploitation.