Name and Shame
Name and Shame



This complaint was posted on NAS on 6th Jan, 2021 and is a permanent record located here: .

NameandShame Author
The Smart Investor Feed
6th Jan, 2021

Unregistred ICO + Self-Minting Scam

Today, The Smart Investor Feed brings you another morally reprehensible fraud.

Amir Bruno Elmaani has been seized/arrested by the U.S. Securities And Exchange Commission (SEC). Shocking right?

We weren’t expecting this as well, but these scammers are getting smarter by the minute, making it harder for us to identify.

Such swindlers seem to be booming in numbers lately. This case is kind of interesting, why don’t I show you why:

Full Report On Amir Bruno Elmaani

The Securities and Exchange Commission today charged Amir Bruno Elmaani, who goes by the online alias Bruno Block, for conducting an illegal securities offering of digital tokens and for his scheme to profit by minting millions of unauthorized tokens for himself at no cost and selling them into the secondary market, thereby causing the value of others' tokens to plummet.

As alleged in the SEC's complaint, in the fall of 2017, Elmaani offered and sold tens of millions of digital tokens called Pearl tokens in connection with his venture, Oyster Protocol. According to the complaint, the Pearl tokens were securities, but Elmaani's offer and sale of Pearl tokens was not registered with the Commission. The complaint alleged that Elmaani unlawfully raised approximately $1.3 million through his unregistered sale of Pearl tokens. The complaint also alleged that, on or around October 29, 2018, Elmaani used a web of digital wallets to covertly mint approximately four million unauthorized Pearl tokens for himself for free and immediately began selling the tokens in the secondary market. As alleged in the complaint, Elmaani made approximately $570,000 in illicit gains through the minting and sale of Pearl tokens and, as a result of his sales, the price of Pearl tokens fell by nearly 65%, resulting in significant losses for investors.

The SEC's complaint, filed in federal district court in New York, charges Elmaani with violating the registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933 and the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

Conclusion: Amir Bruno Elmaani Is A Fraud

The report on SEC clearly suggests that Amir Bruno Elmaani never had any intentions to do honest business or provide helpful services. Main intention behind all their actions was to take advantage of the honesty & gullibility of people and scam them. It would be an understatement to call this a mere fraud, this one is a scandal.

If you feel like you are a victim of this scam, then I recommend contacting a law firm and consulting with them about a lawsuit. Companies & firms pay huge reprimands to settle serious lawsuits.

Help Us Fight These Criminals

Do you have evidence against Amir Bruno Elmaani or one of their associates, then please post it here. These criminals rely on their witnesses’ & victims’ silence, if you speak up, then they get exposed and punished for their horrific acts. I started The Smart Investor Feed on this site with only one purpose; to become a nightmare for the financial frauds in the country. I try to post often, so you can bookmark my profile for regular updates on frauds & con-artists.

Full Disclosure: We sourced this piece of information from the SEC database

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