Security Token Startup Founder Arrested on Sexual Assault Charges, Toronto Police Say

The founder of a security token startup has been arrested on charges of sexually assaulting a minor, Canadian authorities said.

Trevor Koverko, former CEO of Polymath, was taken into custody on March 14 by Toronto police, a spokesperson for the department, Caroline de Kloet, told CoinDesk Wednesday. He has apparently deleted his Twitter.

Koverko has been charged with “sexual interference with a person under 16 years of age” (Section 151 of Canada’s Criminal Code) and “sexual assault” (C.C. 271), said de Kloet.

Chris Housser, Polymath’s other founder and interim CEO, said Koverko resigned from his role at Polymath on Feb. 8, 2021, well before the arrest.

“He doesn’t have any role with the company so any potential allegations are completely unrelated to Polymath,” Housser said.

A lawyer for Koverko could not immediately be located. The Toronto police spokesperson said Koverko is due in court on May 7. An initial virtual hearing took place on March 14.

Koverko and Housser founded Polymath in 2017 as a firm that can support security tokens on its native Polymesh blockchain (though it originally operated on Ethereum). It raised $59 million through an initial coin offering in 2018.

Before working in the blockchain industry, Koverko was a fifth round draft pick of the New York Rangers hockey team.

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