U.S. SEC requires ICOBox to pay over $ 16 million in fines for illegal token sale

Yesterday, the U.S. Securities and Exchange Commission (SEC) filed a series of recent documents with the California District Court, including a motion for a default judgment on ICOBox and its founder Nikolay Evdokimov. Earlier last September, the SEC accused ICOBox and its founder Nikolay Evdokimov of selling tokens in violation of U.S. securities laws, for a total profit of $ 14.6 million. Under the proposed ruling, the SEC requires ICOBox and Evdokimov to jointly pay more than $ 16 million in fines, including $ 14.6 million in profits from the illegal issuance of tokens, plus a civil penalty of $ 1.45 million. Within 14 days of the judgment becoming effective, the defendant must pay a fine to the SEC.