Reggie Middleton agreed to pay $9.5 million to reconcile with the SEC to organize VERI to raise $14.8 million through ICO

According to CoinDesk, the US Securities and Exchange Commission (SEC) said it has reached a settlement with Reggie Middleton, the organizer of ICO's $14.8 million Veritaseum (VERI). The SEC also accused Middleton of manipulating the value of the securities after ICO and misappropriating at least $520,000 in investor funds for personal use. In the August emergency operation, the SECR froze Middleton's assets and asked the court to prevent him from continuing to operate a listed company or participate in the issuance of digital asset securities. Middleton agreed to pay about $9.5 million in settlement.