According to CoinDesk, the US Securities and Exchange Commission (SEC) supplemented the lawsuit against Telegram with new documents. The Commission concluded that after the end of the ICO stage, Gram token was sold to investors.
To confirm this charge, the SEC provided accounts showing the sale of more than $ 2 million Gram tokens by Da Vinci Capital. The transaction took place on June 20, 2020, and another investment fund ITI Funds appears as a buyer. For this, Da Vinci Capital received $ 209,000 in commission.
In less than 2 weeks, a deal to sell Gram tokens between three other companies took place. Gem Limited completed an $ 8.6 million deal with Goliat Solutions and another $ 4.5 million deal with Space Investments Limited. Gem Limited earned $ 1.1 million from this.
Remarkably, both Da Vinci Capital and Gem Limited avoid comment on this topic.
“Telegram either raised more than the $1.7 billion for which it claimed an exemption, or it did not raise $1.7 billion as of March 29, 2018, and the later funds may have been raised through underwriters,” — the SEC noted earlier.
This information may adversely affect Telegram’s reputation, according to the SEC. Indeed, earlier company representatives claimed that the ICO was conducted in accordance with all the rules of the regulator.