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SEC co-director calls ICO fraudsters “roaches”

06 September 2017 21:00, UTC

One of the leaders of the influential United States Securities and Exchange Commission that hunts for initial coin offerings where the company either hides information or lies about its business strategy has made an unusual statement on Tuesday.

This happened during the panel discussion in New York. The SEC’s co-director, Steven Peikin, was talking about the threats the illicit or malicious ICOs pose to the investors and how he and his colleagues fight them.

A member of the U.S. Securities and Exchange Commission's (SEC) division of enforcement has spoken out against malicious initial coin offerings (ICOs). When he talked about those who try to use the new market opportunities to cheat clients, he said: “Roaches kind of crawl out of the woodwork and try to scam money off of investors.”

This comparison demonstrates the disdain Mr. Peikin feels about cheaters and his commitment to his work, but even the criminals deserve a bit of respect, or else the humanity might fall to the level of Rwanda’s RTLM radio propagandists who, too, called “roaches” those they considered their enemies.