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Venkata S. Meenavalli, an Indian ex-CEO of a once Nasdaq-listed American fintech firm Longfin, has settled with the US Security and Exchange Commission (SEC) for conducting a $27 million accounting fraud scheme to inflate the revenue of the now-defunct cryptocurrency company in order to get it listed on the Nasdaq.
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An update from the courtroom shows that Venkata S. Meenavalli, the CEO of the embattled crypto firm Longfin, has finally yielded to paying a disgorgement fine of $400,000.The case filed against the supposed cryptocurrency firm last year by the SEC at the US district court for the southern district of
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The U.S. Securities and Exchange Commission (SEC) has reached a settlement with fintech firm Longfin’s CEO, Venkata S. Meenavalli, on charges of fraud.According to an SEC press release Friday, Meenavalli has agreed to pay $400,000 in both disgorgement and penalties related to a 2017 Regulation A+ offering the SEC deemed
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The United States District Court for the Southern District of New York has ordered purported cryptocurrency company Longfin to pay a total of $6,755,848 million in penalties.Falsely obtained qualification for Regulation A+ offeringOn Sept. 30, the Securities and Exchange Commission (SEC) announced that a New York federal court entered
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