New York court ordered blockchain company Veritaseum CEO to pay $8.4 million in fines

New York courts ordered blockchain company Veritaseum LLC and Veritaseum Inc. CEO Reggie Middleton to pay a $8.4 million fine. In addition, Middleton had to pay a $1 million civil penalty.
According to media reports, the SEC accused Reginald Middleton and its companies Veritaseum Inc. and Veritaseum LLC of fraudulent and unregistered ICO between late 2017 and 2018, and demanded that the US District Court urgently freeze the defendant's assets. The SEC formally filed suit against Reginald Middleton, New York company Veritaseum Inc. and Delaware-based Veritaseum LLC.