The SEC Charges Vy Pham For “Saitama Inu” Meme Coin Scam!

The post The SEC Charges Vy Pham For “Saitama Inu” Meme Coin Scam! appeared first on Coinpedia Fintech News

Reportedly, the SEC, the FBI, and the DOJ charged multiple cryptocurrency entities suspected of fraud and market manipulation. The complaint, filed in the US District Court, alleges that Vy Pham illegally sold unregistered securities in the form of digital tokens. It also accuses him of misleading investors by promoting “Saitama Inu”. As per sources, he leveraged social media channels to promote the meme coin. Further, he advertised strong community backing and promised massive returns to investors. However, the SEC contends that his promotional efforts were part of a “pump-and-dump” scheme.