SEC v. Auzins (unregistered distributions, 2021)

Settled

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In December 2021 the SEC charged Latvian national Ivars Auzins with defrauding investors through the Denaro token offering and the Innovamine mining platform. On February 7, 2025 he consented to a final judgment with injunctions, ten-year officer-director and crypto-offering bars and $412,201.15 disgorgement and interest deemed satisfied by criminal forfeiture.

The record

What was ordered

Civil penalty

—

Disgorgement

$412k

Prejudgment interest

—

Total relief

$412k

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Securities and Exchange Commission announced this matter on December 3, 2021 as release LR-25277. The respondents named are Auzins (1 individual, 0 entities). The action was brought in the U.S. District Court, Eastern District of New York.

This library tags the matter as unregistered distributions, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The conduct is recorded against crypto.

Non-monetary relief recorded: conduct-based injunction, officer-and-director bar.

Outcome: SEC release LR-26279 (March 28, 2025) says the Eastern District of New York entered a final judgment on consent on February 7, 2025 enjoining Auzins under the antifraud and registration provisions. It orders $412,201.15 in disgorgement including prejudgment interest, deemed satisfied by the forfeiture order in his criminal case, and bars him for ten years from serving as an officer or director of a public company and from participating in an offering of a crypto asset sold as a security. No civil penalty is reported. In the parallel criminal case he pleaded guilty and was sentenced to time served, stated as 31 months. The disgorgement figure is recorded as stated, including interest.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Unregistered distributions — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2021-12-03 Litigation release published
2. 2025-02-07 Final judgment on consent entered (E.D.N.Y.), announced in LR-26279

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release
• SEC litigation release LR-26279 (final judgment)

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.