From @troy_james1 via Instagram
The former owner of the Colonial Inn and Gables in Grand Bend is now facing charges in the United States.
Troy Hogg is alleged to have been involve in a multimillion-dollar cryptocurrency scheme which took place between May 2018 and January 2019.
It is claimed that Hogg and his associates misled investors about a cryptocurrency asset named Dignity, purportedly backed by gold.
The SEC contends that the defendants engaged in a pump-and-dump scheme, artificially inflating the value of Dignity through deceptive tactics and then profiting by selling off their shares, causing significant losses to other investors.
This trial marks the latest legal battle for Hogg, who also faces charges from the Ontario Securities Commission (OSC). Allegations against him in Ontario include involvement in a fraudulent offering of the Dignity coin, raising approximately US $51 million between May 2017 and June 2019.
The penalties he faces for violations of securities laws in Ontario could result in substantial fines and permanent bans on selling securities.
The trial is scheduled to start on June 17, at 9 a.m. in Miami, Florida, at the U.S. District Court for the Southern District of Florida.
Written by: B. Shakyaver
