Arthur Breitman, AKA Arthur Meunier Sanctioned by FINRA after His Infamous Tezos Initial Coin Offering (ICO) Raised $232 Million; Breitman Suspended 2 Years & Fined $20K
Arthur Breitman, AKA Arthur Meunier was sanctioned and fined by FINRA and investor rights lawyer Alan Rosca is commencing an investigation into the case.
Attorney Alan Rosca, of the Goldman Scarlato & Penny PC law firm in the Philadelphia area, is investigating activity related to Arthur Breitman’s alleged outside business activities and potentially misleading statements to investors. Investors who believe they may have lost money in activity related to Arthur Breitman’s alleged outside business activities are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Arthur Breitman, AKA Arthur Meunier, was suspended for a period of two years from any FINRA regulated activity and was assessed a fine of $20,000 for his dealings with the now in-famous Tezos initial coin offering (ICO) that raised approximately $232 million from investors, according to FINRA Reports under review by attorney Alan Rosca.
Breitman allegedly initiated the creation of Tezos while he was still an employee of Morgan Stanley, and FINRA Rules mandate that Breitman was required to notify his employer of his outside activity, which he allegedly failed to do, FINRA states.
Breitman’s Business Plan Allegedly Failed to Provide a Balanced Presentation & Sound Basis for Evaluating an Investment in the Tezos Technology
Breitman’s Business Plan allegedly originally wished to raise $5 to $10 million in working capital, and Breitman used the pseudonym L.M. Goodman to promote his company and hide his involvement, according to FINRA Reports under review by attorney Alan Rosca.
Meunier allegedly created and distributed the Business Plan to prospective investors on a confidential basis so they could ponder an investment in his blockchain technology, but the Business Plan allegedly failed to provide a balanced presentation and sound basis for evaluating an in-vestment in the technology, FINRA notes.
The Business Plan allegedly contained forward-looking predictions of the company’s performance and allegedly potentially misleading statements, and, at that time, the blockchain technology was still allegedly developing, had no revenues, and its future performance was conditioned on, among other things, building a portfolio of users and raising working capital, FINRA notes.
Breitman / Meunier allegedly agree to the sanctions without admitting nor denying any of the FINRA findings.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Arthur Breitman’s alleged outside business activities and potentially misleading statements to investors. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Arthur Breitman’s alleged outside business activities may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.