Telegram Pavel Durov and the U.S. securities and exchange Commission entered into a settlement agreement. Durov pledged to return to investors $ 1.2 billion.

This information is contained in a letter dated June 11, issued by the securities Commission of USA (SEC) in the address of judge Kevin Castel, who dealt with the case of Durov.

In the terms of the settlement agreement included the obligation to return those who have invested in the next project TON of 1.22 billion dollars. This profit Commission is considered illegal. Talking about the return of 72% of invested funds to investors who decided to withdraw from the project this year (when the us government banned Durova to produce tokens Gram) and those who expected to get 110% in 2021 under the terms of the loan agreement. The total amount collected Durov at the ICO funds amounted to $ 1.7 billion.

the U.S. Commission on securities has considered that ICO Telegram has violated the securities Act, the company has pledged to continue not to violate, but also to warn the SEC about the issue of crypto-currencies and tokens for 45 days.

In the agreement there is a paragraph on the payment of a penalty fee in the amount of $ 18.5 million.

Recall that the actor pleaded with the US authorities from 2019. The occasion was their decision that the investment in the project to be concluded as transactions with securities. He lost a court.

Project TON after the settlement agreement will remain banned, however, the actor will avoid criminal prosecution in the U.S.

While it remains unclear where Pavel Durov has taken or will take the funds for final payment to investors by selling stake in their companies or by using any other features.

Recall that on June 18 Telegram was released in Russia. Soon on the darknet appeared massive database of messenger users.