(March 6 3:52 PM EST California) A federal judge gave a judgment and fine in the amount of 16 million dollars for ICOBox.

ICOBox did not respond for SEC’s suit last September and U.S. District Judge Dale S. Fischer granted the request for judgment this time.

The accusation concerns unregistered brokerage and unregistered sale of securities through its ICOS tokens. ICOBox handed out tokens of up to $ 650 million to his clients.

The Los Angeles company allegedly hauled in roughly $14.6 million with the sale of ICOS. The SEC asked in January for disgorgement of the sale’s proceeds with interest, amounting to more than $16 million, along with a $189,426 fine for Nikolay Evdokimov, the company’s co-founder and CEO.” said law360

The SEC said in January that the status of Evdokimov and his company were unclear, as ICOBox is no longer registered as a corporation and its website is no longer accessible.

After service of the complaint was effected at ICOBox’s office, the premises was vacated, with several months’ rent left unpaid,” according to the agency. “Efforts to email Evdokimov’s last known address … garnered no response (though no emails bounced back).” said law360

The main subject of the SEC’s indictment was that ICOBox sold its unregistered token securities to more than 2,000 investors, and subsequently clients sell and received hundreds of millions of dollars through their own initial coin offerings.

Claiming all the while that these securities were not subject to registration requirements the agency believes the company clearly knew about.” said law360

Initially, the ICOBox told its investors that they could swap ICOS for the company’s digital assets, but the ICOBox eventually stopped the exchange policy and the ICOBox tokens lost 95% of their value since release.

The company has never imposed any accreditation standards for its investors, and recently also abolished its exchange platform.

Evdokimov who promoted the company through social media, attended conferences and doing interviewes, received a fine of $ 192,768, and the same deadline was given to an ICOBox of $ 16 million.

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