Dentist charged by SEC for digital token project fraud, pump-and-dump AI stock scheme


The US Securities and Exchange Commission (SEC) has charged a Florida national for his alleged role in three separate securities fraud scams. 

Edgar Radjabli, a former dentist, controlled Apis Capital Management LLC., marketed as an advisory firm that the SEC says was unregistered. 

Through this company, Radjabli allegedly controlled Apis Tokens as a managing partner, an offering called the “first tokenized hedge fund” which was based on the Stellar platform. 

Apis Tokens were touted as a way for investors to access the ACM Market Neutral Volatility Strategy fund by converting cryptocurrency including Bitcoin (BTC) and Ethereum (ETH) into Apis Tokens and stakes in the fund. 

“The offering model of the Apis Token is different from a traditional ICO, as it allows investors to subscribe throughout the…

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