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

ÍøÆØ³Ô¹Ï

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 ÍøÆØ³Ô¹Ï.

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.

ÍøÆØ³Ô¹Ï 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

As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

Bill C. and Dan M.

LATEST NEWS AND ARTICLES

1783957061 Law
July 13, 2026
FINRA Warns of Growing Risks From Finfluencers and AI-Driven Investment Content

Financial Industry Regulatory Authority (FINRA) regulators are raising concerns about the increasing influence of social media personalities and artificial intelligence (AI) on retail investors, particularly those managing their own investments without professional guidance.

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.