Longfin CEO Ordered to Pay $6.8 Million in Crypto Fraud Case

Longfin CEO Ordered to Pay $6.8 Million in Crypto Fraud Scheme

Longfin Corp’s CEO and his now-defunct cryptocurrency company have been ordered to pay $6.8 million to the US Securities and Exchange Commission (SEC) to settle charges relating to an accounting fraud and unregistered ICO. On Monday, the US regulator announced the ruling in the case, which revolved around Longfin and its CEO, Venkata Meenavalli who is accused with orchestrating a scheme to inflate its revenue.