SEC v. Ichcoin Tech Corp. — U.S. Securities and Exchange Commission Litigation Release No. 26623, dated August 28, 2026.
The SEC charged Ichcoin Tech Corp. with making false statements in its filings with the agency. Ichcoin allegedly claimed to be an exempt reporting adviser while ineligible, provided a fake office address and phone number, and used a CRD number belonging to an unrelated elderly individual. The firm also failed to respond to SEC requests for records.
In Plain English
Imagine someone pretends to be a licensed financial helper, but they aren't. They fill out a form saying they are allowed to help people with investments, but they lie about where they work and even use someone else's ID number. When the authorities ask for proof, they ignore them. This is like someone using a fake badge and address to trick people into trusting them with their money.
Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.
How the Alleged Scheme Worked
- Claiming False Eligibility Ichcoin Tech Corp. filed a Form ADV with the SEC on January 25, 2024, falsely claiming to be an Exempt Reporting Adviser (ERA). They stated they advised a private fund with less than $150 million in assets, but their own filing showed figures far below the threshold required for ERA status, making them ineligible.
- Fabricating Identity Information In the same Form ADV, Ichcoin provided a Central Registration Depository (CRD) number that actually belonged to an 87-year-old individual in Georgia with no connection to the company. They also listed an office address in Albany, New York, and a Colorado phone number that did not connect to anyone at Ichcoin.
- Creating a Fake Public Record These false statements created a public record that made Ichcoin appear to be a legitimate, SEC-supervised entity with a valid industry identification number and business presence, which was crucial for their subsequent fraudulent activities.
- Targeting Investors with Counterfeit Documents Ichcoin operators then used this fabricated record to target investors. They posted a counterfeit SEC registration certificate on their website, featuring the same false Albany address and CRD number from their Form ADV.
- Operating a Phony App Furthermore, they operated a fake mobile trading application under Ichcoin's name. This app was used to solicit funds from investors, further solidifying the illusion of a legitimate investment opportunity.
- Ignoring SEC Investigations When the SEC staff began investigating and sent document requests in February 2024, Ichcoin ignored them. Subsequent attempts by SEC staff, including formal subpoenas sent in April and May 2024, also went unanswered.
The Enforcement Action
SEC charges Ichcoin Tech Corp. for making false statements in its Form ADV filings regarding its eligibility as an exempt reporting adviser, its office location, and its identifying information. The SEC seeks a permanent injunction, a conduct-based injunction against filing as an ERA, and a civil monetary penalty.
Named in this action: Ichcoin Tech Corp. (n/k/a Wealth Tutor Corp.).