Securities Exchange Comission has framed the charges which were leveled at REcoin and DRC (Diamond Reserve Club), both ICOs founded by Maksim Zaslavskiy.
REcoin was offered with underlying as real estate. These real estate assets were expected to be purchased with proceeds from ICO.
DRC ICO scheme on other hand offered investors that the company by using its relationships with diamond wholesalers would sell him diamonds at a discount and investors would get arbitrary gains.
However there was no purchase or sell made by the company
