The SEC charged four individuals with fraud violations in relation to their actions with NASGO, a company that created various tokens that the SEC has since described as unregistered securities. The defendants allegedly made claims that one of the tokens would increase in value by 10¢ every week, plus another 10¢ each time a new business joined their platform. The defendants also engaged in various other shady business, including hiring traders to trade the tokens amongst themselves to give the appearance of investor demand. This worked only until investors actually decided they wanted to cash out, causing the whole thing to fall apart because the market demand was faked. According to the SEC, NASGO misappropriated almost $4 million in investor funds.