The United States fined a Russian space startup for $ 7 million

12 August, 2021

The US Securities and Exchange Commission (SEC) fined space startup Momentus Space for $ 7 million. Russian Mikhail Kokorich was accused of misleading investors by reporting successful tests of his technology, reports The Verge.

Founded in 2017, Momentus is developing last-mile transportation technology for satellites already in orbit, using a unique water-based propulsion system to propel satellites to other orbits.

According to the SEC, Momentus misled investors that it had "successfully tested" its technology in space. In fact, the company once tested its technology in space and failed. The SEC noted that Stable Road never reviewed the results of this test, although it claimed to be conducting "extensive due diligence."
As a result, the SEC fined Momentus Space $ 7 million, Stable Road Acquisition - $ 1 million.