The Securities and Exchange Commission reports it has obtained a temporary asset freeze, restraining order and other emergency relief against a Draper-based company.
SALT LAKE CITY — The U.S. Securities and Exchange Commission reports it has obtained a temporary asset freeze, restraining order and other emergency relief against Draper-based Digital Licensing, doing business as DEBT Box, as well as four company principals and over a dozen other named defendants, alleging they are connected to a cryptocurrency scheme that defrauded hundreds of investors of nearly $50 million.
The SEC claims defendants told investors, through online videos, social media posts and investor events, that the node licenses would generate various crypto asset tokens through crypto mining activity and that "revenue-generating businesses in a variety of sectors would drive the value of the various tokens DEBT Box mined, resulting in exorbitant gains for investors."
The SEC's complaint further alleges that DEBT Box and its principals — along with defendants James Franklin, Western Oil Exploration Company, and Ryan Bowen — lied to DEBT Box investors about the revenues of the businesses purportedly driving the value of the tokens.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
US District Judge Rejects Approach in SEC v Ripple Ruling on XRP – Bitcoin NewsA U.S. district judge has rejected the approach taken in the U.S. Securities and Exchange Commission (SEC) v. Ripple ruling regarding XRP.
Consulte Mais informação »
Why I Don’t Feel Bad for HEX Founder Richard Heart’s VictimsRichard Heart has pitched himself as a clownish goofball. But allegations of his manifold deceptions are anything but funny, davidzmorris writes. Opinion for The Node
Consulte Mais informação »
Ripple CLO Stuart Alderoty Explains Securities in 'After Hours' Parody Skit – Bitcoin NewsThe Ripple CLO stated: 'Some would like you to think that a digital token can in and of itself be a 'digital asset security.' It can't. Standing alone, it's just a commodity or a virtual currency.'
Consulte Mais informação »
Texas Attorney General Ken Paxton to appear in Houston court hearing for his securities fraud trialEmbattled Texas Attorney General Ken Paxton is set to appear in a Houston courtroom to discuss his nearly decade-long delayed trial on securities fraud charges.
Consulte Mais informação »
Texas Attorney General Ken Paxton to appear in Houston court hearing for his securities fraud trialEmbattled Texas Attorney General Ken Paxton is set to appear in a Houston courtroom to discuss his nearly decade-long delayed trial on securities fraud charges
Consulte Mais informação »
Paxton to appear in Houston court hearing for his securities fraud trialEmbattled Texas Attorney General Ken Paxton, awaiting the start of a separate impeachment trial, is set to appear in a Houston courtroom Thursday to discuss his nearly decade-long delayed trial on securities fraud charges.
Consulte Mais informação »