Reginald Middleton
Founder of Veritaseum and its VERI token. The SEC alleged he ran a fraudulent ICO and manipulated VERI's price; he settled in 2019 for ~$9.5M and a permanent bar from digital-securities offerings, without admitting or denying the allegations.
Also known as: Reggie Middleton
Note: Middleton settled the SEC's civil charges without admitting or denying wrongdoing.
Bio
Reginald "Reggie" Middleton, a self-described financial analyst, founded Veritaseum and promoted its VERI token. The SEC alleged he made false statements during the VERI ICO, manipulated the token's secondary-market price and volume, and misappropriated investor funds. [1][2]
Outcome
In November 2019, Middleton and Veritaseum consented to a ~$9.5 million judgment (disgorgement, interest, and a $1M penalty) and a permanent bar from digital-securities offerings. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
See also
Luke BelmarIndividualsCryptocurrency influencer Luke Belmar (@lukebelmar on X) became the subject of controversy following allegations related to the promotion of a memecoin. Critics on social media alleged that Belmar used a series of posts referencing a forthcoming cryptocurrency project and a large-scale airdrop to generate interest in a token without explicitly identifying a specific contract address. Belmar published multiple posts discussing an upcoming memecoin, describing plans for what he characterized as a major airdrop and making comparisons to other cryptocurrency projects. Because no contract address was publicly provided, several tokens emerged claiming association with his statements. Critics alleged that this ambiguity enabled speculation around multiple tokens while avoiding a direct endorsement of any particular asset.
HEX / PulseChain (Richard Heart)ProjectsCrypto projects (HEX, PulseChain, PulseX) created by Richard Heart (Richard Schueler). In July 2023 the U.S. SEC sued him for offering unregistered securities that raised $1B+ and for allegedly misappropriating ~$12M for luxury goods (including a 555-carat diamond). A court dismissed the case in 2024 for lack of U.S. jurisdiction; there was no finding of wrongdoing and Heart denies the allegations.
This page was last updated on Jun 15, 2026. View revision history.
