Tai Mo Shan Fined $123M
This is a U.S. news story, published by CoinGape, that relates primarily to Tai Mo Shan Limited news.
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•US SEC Charges Tai Mo Shan With Fraud Over Terra USD Peg Stability Claims
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Tai Mo Shan Limited , a subsidiary of Jump Crypto Holdings LLC, has been fined $ 123 M by SEC for misleading investors on Terra USD’s $ 1 peg stability and unregistered LUNA sales, violating U.S. laws.
Terraform Labs and its founder, Do Kwon, were found liable for fraud, unregistered securities offerings earlier in 2024 .
Tai Mo Shans agreed to pay $73.45M in disgorgement, $ 12.91 M in prejudgment interest, and a $ 36.72 M civil penalty.
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