Indicted Ex-Longfin CEO Will Pay $400K To End SEC Action

Law360 (January 3, 2020, 4:46 PM EST) -- The former CEO of shuttered cryptocurrency company Longfin Corp., still facing criminal charges in New Jersey, has agreed to pay $400,000 to escape the U.S. Securities and Exchange Commission's parallel civil charges of securities fraud in New York.

Venkata S. Meenavalli, who lives in India, neither admits nor denies the agency's allegations that his fintech company reported sham revenue and schemed to get the company listed on the Nasdaq stock exchange.

But in a consent filing signed last month and put before a New York federal judge on Friday, Meenavalli agreed to disgorge the $159,000 salary he received while acting as...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!