SEC Suit Against Blockchain Duo Paused Amid Criminal Case

Law360 (June 24, 2020, 3:51 PM EDT) -- A New Jersey federal judge hit the brakes Wednesday on a U.S. Securities and Exchange Commission suit claiming two people with a blockchain technology company duped investors while raising $30 million in cash and cryptocurrency, saying the matter should be paused until the end of a parallel criminal case.

U.S. District Judge Stanley R. Chesler granted an unopposed motion from the U.S. attorney's office for New Jersey to intervene in and stay the SEC action against Edith Pardo, Boaz Manor, CG Blockchain Inc. and a related entity.

The judge reasoned that halting the suit until the conclusion of the criminal action...

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