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

Trevor Koverko resigned from the CEO role at Polymath on Feb. 8, his co-founder and interim successor said. He was arrested March 14, police said.

The founder of a security token startup was arrested on charges of sexually assaulting a minor, Canadian officials said.

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

Koverko was accused of “sexual interference with a person under the age of 16” (Section 151 of the Canadian Penal Code) and “sexual assault” (C.C. 271), said de Kloet.

Chris Housser, another Polymath founder and interim CEO, said Koverko resigned from Polymath on February 8, 2021, well before his arrest.

“He has no role at the company, so any potential claims have nothing to do with Polymath,” said Housser.

A Koverko lawyer was not immediately located. The Toronto police spokesman said Koverko was due to appear in court on May 7. An initial virtual hearing took place on March 14.

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

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

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