Settlement for Blockchain Project CEO to Pay huge Fine and Teach Business Ethics.

Following a previous accusation by The Ontario Securities Commission (OSC) that NextBlock, a blockchain firm, and Tapscott the CEO had misled investors by collecting a reported $20 million from 113 investors; a sum of $148,000 in fine has accrued to Blockchain entrepreneur Alex Tapscott (the CEO of NextBlock Global Limited).  NextBlock itself has paid $594,000 over the course of the settlement split as $520,000 as a penalty cost and $74,000 for the investigation.

It was also alleged by the regulators that Tapscott lied to investors by presenting them with a slide deck of supposed advisors who were not actually associated with the corporation. He had initially filed for a public settlement hearing with the OSC on May 9. His settlement agreement with the OSC asides paying the fine also includes that Tapscott will lead ethics seminars at three Canadian business schools; according to a report dated May 13 by The Globe and Mail. The Globe and Mail also revealed that contrary to the common procedure in the settlement agreements such as this, Tapscott is not temporarily banned from leadership in a company.

The acclaimed advisors to the company Kathryn Haun, Vinny Lingham, Vitalik Buterin and Karen Gifford, happen to be well-known figures in the blockchain and cryptocurrency spaces. Forbes reached out to the aforementioned individuals, who subsequently denied their involvement resulting in the scandal exposure in 2017.

Over the course of the following 18 months, Tapscott’s lectures will be held. The lectures will reportedly cover the same topics about which he will write in an open letter to be released within the week.

 

Read more- 

Yet another Bitcoin Break; above $8000 this time, Altcoins follow.

A beginner’s brief on bitcoin trading and Benefits.

A Call for Crypto Ban as It Threatens to Diminish American Power

New game, Satoshi’s treasure culled Over 60000 subscribers to its Clues Notification.

Bitcoin value goes remarkably higher over the weekend; above $7000.

Opportunity for African Game developers, via Google accelerator.

Agenda set for For CPN’s 2019 Assembly; warning sent To Unregistered IT Practitioners.

Blockchain Analyst says Binance hacker may be trying to cover their tracks.

Pioneer Crypto exchange hires a former Coinbase executive in a bid for expansion.

A young Nigerian team is building a global IoT-based hardware company.

Voice Cloning: A Unique Art of Artificial Intelligence (AI)

A Chronological build up of Artificial Intelligence. 

 

 

 

Credits- Max Boddy

Instant Crypto Credit Lines™ from only 5.9% APR – unlock your crypto-wealth tax-efficiently, without selling it. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance. Read more here

 

JOIN OUR COMMUNITY

Leave a comment

My Newsletter

Sign Up For Updates & Newsletters

[mc4wp_form id="456"]