By Mark Hunter
1 week agoMon Dec 04 2023 10:03:47
Checking out Time: 2 minutes
- A federal judge in Utah has actually slammed the SEC for possibly making “incorrect and deceptive representations” after freezing the possessions of crypto company Digital Licensing Inc.
- The SEC implicated the business of defrauding financiers and gotten a limiting order without alerting it, however the court has actually discovered the claims incorrect
- The SEC might deal with sanctions for its actions versus Digital Licensing Inc., highlighting difficulties in its regulative method.
A federal judge in Utah has actually slammed the Securities and Exchange Commission (SEC) for possibly making “materially incorrect and deceptive representations” to freeze properties of the cryptocurrency company Digital Licensing Inc. The SEC implicated Digital Licensing Inc. of defrauding financiers of almost $50 million through its business DEBT Box, with the company getting a short-lived limiting order and property seizure without alerting the business, declaring that it was moving operations to Abu Dhabi. The court discovered the SEC’s claims to be incorrect, leaving the SEC dealing with humiliation and, even worse, sanctions.
SEC Attorneys Misrepresented Account Closure Evidence
In his order,
