WASHINGTON--(BUSINESS WIRE)--U.S. Market Advisors Law Group PLLC (USMA Law Group) announces that it is investigating potential securities fraud claims on behalf of investors who attempted to purchase AriseCoin tokens leading up to AriseBank’s failed initial coin offering (ICO). USMA Law Group’s investigation concerns whether AriseBank violated securities laws by engaging in interstate commerce for the purposes of offering, selling or delivering unregistered securities. AriseBank may have also issued materially misleading business information to the investing public.
USMA Law Group is preparing a class action lawsuit to recover damages suffered by AriseBank investors. If you made payments to AriseBank for the purchase of AriseCoin tokens, please visit the firm’s investigation webpage. You may also contact David P. Abel at 202-274-0237 or via email at firstname.lastname@example.org.
AriseBank began raising money through an alleged unregistered securities offering of AriseCoin around November 2017. AriseBank claimed that it raised more than $600 million, with a goal of $1 billion. The ICO was scheduled to conclude on January 27, 2018, with AriseCoin to be distributed to investors on February 10, 2018.
On January 25, 2017, the Securities & Exchange Commission halted the allegedly fraudulent ICO by securing an emergency asset freeze over AriseBank, and its co-founders, which included appointing a receiver over their assets. The ICO was allegedly an illegal offering of securities.
AriseBank may have also made false statements about the ability to offer customers FDIC-insured accounts and transactions, and its association with a payments processing platform through which AriseBank claimed to offer an AriseBank-branded Visa card. AriseBank also allegedly failed to disclose the criminal background of key executives.
USMA Law Group is available to discuss litigation options for investors in the AriseBank ICO who have suffered damages. There is no cost or obligation. The firm’s AriseBank Investigation web page provides more information: http://usmarketlaw.com/arisebank/.
About USMA Law Group
USMA Law Group is a national law firm based in the District of Columbia. The firm represents investors in antitrust, securities and shareholder litigation. To learn more, visit www.usmarketlaw.com.