The event's organizer, V Diamonds, said Tuesday that it would process thousands of refunds for investors who bought tokens for an ownership stake in the ring
ADVERTISEMENT
Representational picture
Singapore: A Singapore-based company has called off a $2 million initial coin offering backed by a 2.08-carat blue diamond that gave investors a chance at a raffle for a luxury dinner.
The event's organiser, V Diamonds, said Tuesday that it would process thousands of refunds for investors who bought tokens for an ownership stake in the ring.
V Diamonds' founder Ville Oehman agreed to buy the ring and dinner from the Russia-based World of Diamonds Group as part of a wider promotion. In November he began selling the tokens for $2 or more.
Investors had a chance to win a lavish dinner on a private jet, enlivened by fireworks. In a joint statement, V Diamonds and the World of Diamonds Group said the cancellation was a "mutual decision."
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
