SEC v. Ivars Auzins, No. LR-26279, Eastern District of New York (Mar. 28, 2025) — Press Release
raw: Ivars Auzins
Ivars Auzins, No. LR-26279 (E.D.N.Y. Mar. 28, 2025)
summary
The SEC obtained a final judgment against Latvian national Ivars Auzins for orchestrating two fraudulent crypto asset schemes that misappropriated investor funds.
paragraph
Ivars Auzins was charged with defrauding hundreds of retail investors through the Denaro initial coin offering and the Innovamine cloud mining platform. The SEC obtained a final judgment requiring $412,201.15 in disgorgement, which was satisfied via a parallel criminal forfeiture order. The court also imposed a ten-year ban on Auzins serving as a public company officer or director and participating in crypto asset offerings.
narrative
The SEC has obtained a final judgment against Latvian national Ivars Auzins for his role in two fraudulent cryptocurrency schemes. Between 2018 and 2019, Auzins used fictitious names and entities to defraud hundreds of retail investors through the Denaro initial coin offering and the Innovamine cloud mining platform. He misappropriated nearly all the funds raised during these offerings. In parallel to the SEC's action, Auzins pleaded guilty to criminal charges and was sentenced to time served. The final judgment includes a $412,201.15 disgorgement order, which was satisfied by a criminal forfeiture order. Additionally, Auzins is barred from serving as an officer or director of a public company and from participating in crypto asset offerings for ten years.
Classified crypto-securities(confidence 100%). EDGAR detection: forms 1-A/S-1/8-K· recall 43% / precision 2%. detection rule →
Statutes
Parties
Securities and Exchange CommissionIvars Auzins
Keywords
auzinssecurities exchangesecuritiesivars auzinsexchange commissionagainstexchangesecagainst latviancrypto assetparallel criminalagainst auzinsprovisions securitiesivarscommission
Exhibits & Attached Documents (1)
Extracted insights
Dollar amounts 1
- $412K $412,201 $100K–$1M
Entities 9
- person defrauding retail investors
- person final judgment
- person investor funds
- person ivars auzins
- person Jon Daniels
- agency sec litigation
- agency Securities and Exchange Commission
- person todd brody
- agency United States Attorney's Office For The Eastern District Of New York
Triples 15
- Securities And Exchange Commission obtained final judgment on consent against Ivars Auzins
- Ivars Auzins charged with defrauding retail investors
- Ivars Auzins defrauded U.S. and foreign investors through Denaro initial coin offering
- Ivars Auzins defrauded investors through Innovamine cloud mining platform
- Ivars Auzins misappropriated investor funds
- United States Attorney's Office For The Eastern District Of New York brought parallel criminal charges against Ivars Auzins
- Ivars Auzins pled guilty to criminal charges
- Ivars Auzins sentenced to 31 months time served
- Final judgment enjoins Ivars Auzins from violating antifraud provisions
- Final judgment orders disgorgement of $412,201.15 against Ivars Auzins
- Final judgment bars Ivars Auzins from acting as officer or director for ten years
- Final judgment prohibits Ivars Auzins from participating in crypto asset offerings for ten years
- Todd Brody conducted SEC litigation
- Jon Daniels conducted SEC litigation
- Thomas P. Smith, Jr. supervised SEC litigation
PDF (from attached: judgment)
Text layers
Extracted body text (2,286c)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26279 / March 28, 2025 Securities and Exchange Commission v. Auzins, No. 21 Civ. 6693 (E.D.N.Y. filed Dec. 3, 2021) SEC Obtains Final Judgment Against Latvian Citizen Charged with Crypto Asset Fraud On February 7, 2025, the Securities and Exchange Commission obtained a final judgment on consent against Latvian national Ivars Auzins. In December 2021, Auzins was charged with defrauding hundreds of retail investors in connection with two separate fraudulent offerings. According to the SEC’s complaint, filed in the U.S. District Court for the Eastern District of New York, Auzins defrauded U.S. and foreign investors through the Denaro initial coin offering of digital assets from January-March 2018, and through Innovamine, an online entity that purportedly offered a cloud mining and digital asset trading platform from April-July 2019. Auzins allegedly used fictitious names, fictitious legal entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised. In December 2021, the United States Attorney’s Office for the Eastern District of New York brought parallel criminal charges against Auzins for his role in the fraudulent schemes in United States v. Auzins, 21 Cr. 357 (E.D.N.Y.) (ERK). Auzins pled guilty and was sentenced to time served (31 months). Auzins consented to entry of the final judgment, which enjoins Auzins from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and the registration provisions of Section 5 of the Securities Act. The judgment also orders: (1) disgorgement, including prejudgment interest, of $412,201.15 against Auzins, which was deemed satisfied by the order of forfeiture entered in the parallel criminal proceeding against him; (2) bars him from acting as an officer or director of a public company for ten years; and (3) prohibits him from participating in any offering of a crypto asset being offered and sold as a security for ten years. The SEC’s litigation was conducted by Todd Brody and Jon Daniels and was supervised by Thomas P. Smith, Jr., all of the SEC’s New York Regional Office.
OCR text (2,286c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26279 / March 28, 2025 Securities and Exchange Commission v. Auzins, No. 21 Civ. 6693 (E.D.N.Y. filed Dec. 3, 2021) SEC Obtains Final Judgment Against Latvian Citizen Charged with Crypto Asset Fraud On February 7, 2025, the Securities and Exchange Commission obtained a final judgment on consent against Latvian national Ivars Auzins. In December 2021, Auzins was charged with defrauding hundreds of retail investors in connection with two separate fraudulent offerings. According to the SEC’s complaint, filed in the U.S. District Court for the Eastern District of New York, Auzins defrauded U.S. and foreign investors through the Denaro initial coin offering of digital assets from January-March 2018, and through Innovamine, an online entity that purportedly offered a cloud mining and digital asset trading platform from April-July 2019. Auzins allegedly used fictitious names, fictitious legal entities, and fraudulent profiles to perpetrate his schemes, and misappropriated nearly all of the investor funds that were raised. In December 2021, the United States Attorney’s Office for the Eastern District of New York brought parallel criminal charges against Auzins for his role in the fraudulent schemes in United States v. Auzins, 21 Cr. 357 (E.D.N.Y.) (ERK). Auzins pled guilty and was sentenced to time served (31 months). Auzins consented to entry of the final judgment, which enjoins Auzins from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and the registration provisions of Section 5 of the Securities Act. The judgment also orders: (1) disgorgement, including prejudgment interest, of $412,201.15 against Auzins, which was deemed satisfied by the order of forfeiture entered in the parallel criminal proceeding against him; (2) bars him from acting as an officer or director of a public company for ten years; and (3) prohibits him from participating in any offering of a crypto asset being offered and sold as a security for ten years. The SEC’s litigation was conducted by Todd Brody and Jon Daniels and was supervised by Thomas P. Smith, Jr., all of the SEC’s New York Regional Office.