The Commission on securities and exchange Commission (SEC) have achieved two life bans and fines of up to $30 thousand for the founder of Tomahawk Exploration LLC David Lawrence. This is stated in the official release of the Ministry.

According to the document, in the framework of licensee Tomahawkcoin company Lawrence used misleading promotional material and fraudulent statements about what is a tenant drilling sites.

In addition, holders of the tokens were given the false promise that they will be able to exchange Tomahawkcoin on the stock and the potential profit from the production of oil and secondary trade tokens.

Now David Lawrence banned for life to hold the position of Director in public companies, and to own and to sell so-called “penny” stocks.

Sam Lawrence neither admitted nor denied the charges, but agreed to the restrictions and payment of fine.

We will remind, in March under a large-scale SEC investigation concerning the scope of the ICO were the founder of the online publication TechCrunch, Michael Arrington.

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