Crypto-exchange Coinsquare will change managers after being accused of rigging trades
Coinsquare acknowledged, what was done on her platform about 840,000 illegal transactions directed on misconceptions about activity, common volume 590 000 BTC. The agreement confirms that CEO Coinsquare Cole Diamond, founder Virgil Rostand and managing director Felix Mather deliberately allowed and encouraged exchange employees to organize a fictitious trade, made misleading statements and took action against a whistle-blower.
Manual exchanges agreed to resign. Diamond will pay $ 1 million fine, Rostand – $ 900,000. Mather already voluntarily paid $ 50,000 per that he carried out activities that violate the interests of society. Diamond and Rostand prohibited from driving for three years companies or act as “participants market“, Mather is one year old.
Director of Enforcement Division of the Securities Commission Ontario Jeff Kehoe reported, what him for the first time the department had to face the prosecution of the informant, after Togo as the corresponding protection measures were taken in 2016 year.
Coinsquare Capital Markets Ltd. providing investment dealer services, It was the order was given to substantially revise the management model, in Tom including introducing a whistleblower support program.
Coinsquare Charges Ontario Securities Commission On Monday.