SEC Seeks To Close Book On Alleged Blockvest Crypto Fraud

Law360 (January 27, 2020, 6:39 PM EST) -- The U.S. Securities and Exchange Commission has moved for summary judgment in its case against cryptocurrency company Blockvest LLC and its founder, saying there is sufficient uncontested evidence the company engaged in securities fraud.

In a Friday filing in the U.S. District Court for the Central District of California, the SEC outlined its case against Blockvest and founder Reginald Buddy Ringgold III, arguing that following a history of deception of Blockvest investors and the court, a permanent injunction should be entered and disgorgement and civil penalties levied.

Earlier this month, the agency filed a motion for sanctions against Blockvest and Ringgold,...

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