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Maryland attorney general files cease and desist against crypto companies for alleged fraud

September 8, 2023

The Maryland attorney general’s Securities Division has filed a cease-and-desist order against a group of cryptocurrency companies for allegedly violating state law. The companies, collectively known as “Abra,” offered and sold unregistered securities, made untrue statements and omitted material facts, and engaged in dishonest or unethical practices, according to the order filed in late July. Notably, the order alleges that Abra failed to disclose and misrepresent its own solvency, or ability to pay its debts.

 

Article Source: The Daily Record

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