SEC Sues Donald Basile for $16 Million Crypto Fraud Case

BroadChain has learned that at 16:16 on April 18, according to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against cryptocurrency executive Donald Basile, accusing him of involvement in a $16 million fraud scheme. The scheme involved making false "insured" promises regarding a token called Bitcoin Latinum.