SEC v. Sergii Grybniak; and Opporty International, Inc., No. LR-26257, Eastern District of New York (Feb. 26, 2025) — Press Release
raw: Sergii “Sergey” Grybniak and Opporty International, Inc.
Sergii “Sergey” Grybniak and Opporty International, Inc., No. 1:20-cv-327-EK (E.D.N.Y. Feb. 26, 2025)
summary
Sergii “Sergey” Grybniak and Opporty International, Inc. were ordered to pay penalties and face permanent injunctions for an unregistered and fraudulent $600,000 ICO.
paragraph
The U.S. District Court entered a final judgment against Sergii Grybniak and Opporty International for conducting an unregistered and fraudulent ICO of OPP Tokens. The fraudulent offering raised approximately $600,000 from nearly 200 investors through material misrepresentations regarding user growth and regulatory compliance. Grybniak was ordered to pay a $100,000 civil money penalty and both defendants face permanent injunctive relief.
narrative
Sergii “Sergey” Grybniak and his company, Opporty International, Inc., conducted an unregistered and fraudulent initial coin offering (ICO) of OPP Tokens between September 2017 and October 2018. The SEC alleged the defendants raised approximately $600,000 from nearly 200 investors while making material misrepresentations about user growth, corporate partnerships, and the offering's regulatory status. Specifically, the defendants falsely claimed the ICO was 'SEC regulated' and '100% SEC compliant.' The court granted partial summary judgment, finding the defendants violated Section 5 of the Securities Act and rejecting their defenses of reliance on counsel. Without admitting or denying the allegations, Grybniak and Opporty consented to a final judgment. The court imposed a $100,000 civil money penalty on Grybniak and provided for permanent injunctive relief against both parties.
Classified crypto-securities(confidence 100%). EDGAR detection: forms 1-A/S-1/8-K· recall 43% / precision 2%. detection rule →
Statutes
Section 5 of the Securities ActSections 5, 17(a)(2), and 17(a)(3) of the Securities ActSections 5, 17(a)(2), and 17(a)(3) of the Securities ActSections 5, 17(a)(2), and 17(a)(3) of the Securities Act
Parties
Securities and Exchange CommissionSergii “Sergey” GrybniakSergii GrybniakOpporty International, Inc.
Keywords
grybniak opportygrybniakopportysecuritiessergii sergeysergey grybniaksecopporty internationalicosergiisergeyfinalsecurities exchangeexchange commissionpartial summary
Exhibits & Attached Documents (2)
Extracted insights
Dollar amounts 2
- $600K $600,000 $100K–$1M
- $100K $100,000 $100K–$1M
Entities 4
- company against sergii “sergey” grybniak and opporty international, inc.
- agency Securities and Exchange Commission
- company sergii “sergey” grybniak and opporty international, inc.
- court u.s. district court for eastern district of new york
Triples 8
- U.S. Securities And Exchange Commission filed complaint against Sergii “Sergey” Grybniak and Opporty International, Inc. for unregistered and fraudulent securities offering of OPP Tokens via ICO
- Sergii “Sergey” Grybniak and Opporty International, Inc. conducted unregistered securities offering of OPP Tokens from September 2017 to October 2018, raising approximately $600,000 from nearly 200 investors
- Sergii “Sergey” Grybniak and Opporty International, Inc. made material misrepresentations about number of users, growth of blockchain marketplace, partnership with software company, and falsely claimed ICO was SEC regulated and compliant
- U.S. District Court for Eastern District of New York granted partial summary judgment to U.S. Securities and Exchange Commission against Sergii “Sergey” Grybniak and Opporty International, Inc. for violating Section 5 of Securities Act
- U.S. District Court for Eastern District of New York entered final judgment against Sergii “Sergey” Grybniak and Opporty International, Inc. for unregistered and misleading ICO
- Sergii “Sergey” Grybniak paid civil money penalty $100,000 as part of final judgment
- U.S. Securities And Exchange Commission obtained final judgment against Sergii “Sergey” Grybniak and Opporty International, Inc. with permanent injunctive relief under Sections 5, 17(a)(2), and 17(a)(3) of Securities Act
- Nick Margida, Eugene Hansen, Mark Oh, and Kendra Kinnaird led SEC litigation against Sergii “Sergey” Grybniak and Opporty International, Inc.
PDF (from attached: complaint)
Text layers
Extracted body text (2,399c)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26257 / February 26, 2025 Securities and Exchange Commission v. Sergii “Sergey” Grybniak, et al., No. 1:20-cv-327-EK-MMH (E.D.N.Y. filed Jan. 21, 2020) SEC Granted Partial Summary Judgment and Obtains Final Judgment Against Founder of Blockchain Marketplace Company for Unregistered and Misleading ICO On February 4, 2025, the U.S. District Court for the Eastern District of New York entered a final judgment against Sergii “Sergey” Grybniak and his blockchain marketplace company, Opporty International, Inc. The SEC’s complaint was filed on January 21, 2020. In its complaint, the SEC alleged that, from September 2017 to October 2018, Grybniak and Opporty conducted an unregistered and fraudulent securities offering of crypto assets called OPP Tokens via an initial coin offering (“ICO”), raising approximately $600,000 from nearly 200 investors. The complaint also alleged Grybniak and Opporty marketed the ICO by making material misrepresentations and omissions and engaging in other deceptive conduct, including exaggerating the number of users and growth of its online blockchain-based marketplace for small businesses, misrepresenting the nature of Opporty’s purported partnership with a major software company, and claiming the ICO was “SEC regulated” and “100% SEC compliant” when it was not. On September 24, 2024, the Court granted the Commission’s motion for partial summary judgment, finding Grybniak and Opporty had conducted an unregistered securities offering without a valid registration exemption in violation of Section 5 of the Securities Act. In addition, the Court rejected Grybniak and Opporty’s defenses asserting reliance on counsel and that they lacked fair notice of the application of the federal securities laws to the ICO. Without admitting or denying the SEC’s allegations, Grybniak and Opporty consented to entry of the final judgment, which provides for permanent injunctive relief under Sections 5, 17(a)(2), and 17(a)(3) of the Securities Act. The final judgment also ordered Gryrbniak to pay a civil money penalty of $100,000, imposed a conduct-based injunction against him, and ordered both Grybniak and Opporty to comply with various undertakings. The SEC’s litigation was led by Nick Margida, Eugene Hansen, Mark Oh, and Kendra Kinnaird, and was supervised by Melissa Armstrong and James Connor.
OCR text (2,399c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26257 / February 26, 2025 Securities and Exchange Commission v. Sergii “Sergey” Grybniak, et al., No. 1:20-cv-327-EK-MMH (E.D.N.Y. filed Jan. 21, 2020) SEC Granted Partial Summary Judgment and Obtains Final Judgment Against Founder of Blockchain Marketplace Company for Unregistered and Misleading ICO On February 4, 2025, the U.S. District Court for the Eastern District of New York entered a final judgment against Sergii “Sergey” Grybniak and his blockchain marketplace company, Opporty International, Inc. The SEC’s complaint was filed on January 21, 2020. In its complaint, the SEC alleged that, from September 2017 to October 2018, Grybniak and Opporty conducted an unregistered and fraudulent securities offering of crypto assets called OPP Tokens via an initial coin offering (“ICO”), raising approximately $600,000 from nearly 200 investors. The complaint also alleged Grybniak and Opporty marketed the ICO by making material misrepresentations and omissions and engaging in other deceptive conduct, including exaggerating the number of users and growth of its online blockchain-based marketplace for small businesses, misrepresenting the nature of Opporty’s purported partnership with a major software company, and claiming the ICO was “SEC regulated” and “100% SEC compliant” when it was not. On September 24, 2024, the Court granted the Commission’s motion for partial summary judgment, finding Grybniak and Opporty had conducted an unregistered securities offering without a valid registration exemption in violation of Section 5 of the Securities Act. In addition, the Court rejected Grybniak and Opporty’s defenses asserting reliance on counsel and that they lacked fair notice of the application of the federal securities laws to the ICO. Without admitting or denying the SEC’s allegations, Grybniak and Opporty consented to entry of the final judgment, which provides for permanent injunctive relief under Sections 5, 17(a)(2), and 17(a)(3) of the Securities Act. The final judgment also ordered Gryrbniak to pay a civil money penalty of $100,000, imposed a conduct-based injunction against him, and ordered both Grybniak and Opporty to comply with various undertakings. The SEC’s litigation was led by Nick Margida, Eugene Hansen, Mark Oh, and Kendra Kinnaird, and was supervised by Melissa Armstrong and James Connor.