SEC Suspends Cryptocurrency-Related OTC Stock for False Claims

[Ozark]

The Securities Exchange Commission (SEC) this morning suspended trading in the securities of American Retail Group, Inc (OTC: ARBG) as a result of allegations that the company made false statements involving cryptocurrency, including that it had partnered with an “SEC-qualified custodian.”

The accompanying statement from the agency references two August 2018 press releases from the Nevada-based firm, wherein the company claimed that its cryptocurrency products would be offered “under SEC regulations” and that its token sale was “officially registered in accordance [with] SEC requirements.”

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