E-Smart Execs Can't Shake SEC Fraud Suit Over ID Cards

Law360, New York (March 12, 2014, 6:40 PM EDT) -- A Washington, D.C., federal judge on Wednesday refused to dismiss the U.S. Securities and Exchange Commission's suit alleging senior officers of e-Smart Technologies Inc. defrauded investors by lying about having the technology to uniquely identify users for access to bank accounts.

U.S. District Judge James E. Boasberg denied e-Smart CEO Mary Grace's and Chief Technology Officer Tamio Saito's separate motions to dismiss the suit, saying that whether or not the SEC had the facts of the case right, it had adequately pled each element of its...
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