According to the Attorney General, Coinseed and its CEO Delgerdalai Davaasambu and previous CFO Sukhbat Lkhagvadorj, traded unlawfully, defrauding investors in between 2017 and May 2018:”Rather than offering stock, Coinseed offered digital tokens to raise funds to support the development of its business.”Investors were led to anticipate earnings entirely from the Defendants efforts to establish, operate and broaden the Coinseed mobile application. The file likewise mentions an online post released by Coinseed to draw financiers into getting involved in its ICO: “This is a great opportunity for young people who want to make cash in the crypto market. The Attorney General appears intent on shutting down Coinseed operations, as she looks for an order to direct the defendants to pay damages triggered, disgorge all gotten amounts, pay restitution to investors, and for them to be completely barred from dealing with securities and products in New York.

According to the Attorney General, Coinseed and its CEO Delgerdalai Davaasambu and previous CFO Sukhbat Lkhagvadorj, traded unlawfully, defrauding financiers between 2017 and May 2018:”Rather than selling stock, Coinseed offered digital tokens to raise funds to support the growth of its business.”Investors were led to expect revenues entirely from the Defendants efforts to establish, operate and broaden the Coinseed mobile application. The Attorney General appears intent on shutting down Coinseed operations, as she looks for an order to direct the defendants to pay damages caused, disgorge all gotten amounts, pay restitution to investors, and for them to be permanently disallowed from dealing with securities and commodities in New York.

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