Veritaseum (VERI)
A 2017–2018 ICO for the VERI token that the SEC said raised ~$14.8M via false statements and that founder Reginald Middleton manipulated on secondary markets. Middleton and Veritaseum settled with the SEC in 2019 for ~$9.5M and a permanent digital-securities bar.
Also known as: Veritaseum, VERI
Note: Middleton and Veritaseum settled the SEC's civil charges without admitting or denying the allegations.
Summary
Veritaseum, founded by Reginald "Reggie" Middleton, ran an ICO for the VERI token in 2017–2018. The SEC's August 2019 complaint alleged Veritaseum and Middleton fraudulently raised millions (≈$14.8M) through false and misleading statements about the project's profitability, the use of funds, and the amount raised, and that Middleton manipulated VERI's price and volume on secondary trading platforms and misappropriated at least ~$520,000 for personal use. [1][2]
Outcome
On November 1, 2019, a court entered a consented final judgment ordering ~$7.89M in disgorgement, ~$582K in prejudgment interest, and a $1M civil penalty (≈$9.5M total) into a Fair Fund for investors, and permanently barring the defendants from digital-securities offerings. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (2)
See also
$MELANIA tokenMarket manipulationA Solana memecoin announced by Melania Trump on Jan 19, 2025. Per FT analysis, ~24 wallets bought in minutes before the public announcement and netted ~$99.6M as retail piled in; the token then fell 95%+. Early buys were traced to wallets linked to $LIBRA figure Hayden Davis. No charges have been filed.
$TRUMP tokenMarket manipulationA Solana memecoin launched days before Donald Trump's second inauguration (Jan 2025). Trump-linked entities hold 80% of supply and earned $320M+ in fees while ~760,000 mostly-retail wallets lost money; a 'dinner with the president' promotion for top holders drew conflict-of-interest scrutiny. The 'scam' label is contested and no charges have been filed.
This page was last updated on Jun 15, 2026. View revision history.