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Securities And Exchange Commission v. NAC Foundation, LLC et al

  1. June 24, 2025

    No New Trial For Convicted Crypto CEO Linked To Abramoff

    A California federal judge Tuesday declined to acquit a cryptocurrency company founder convicted of fraud and money laundering in a case that also involved disgraced ex-lobbyist Jack Abramoff, calling the defendant's assertions that the court wrongly blocked evidence showing Abramoff had conspired against the company "laughable."

  2. March 12, 2025

    Crypto CEO Linked To Jack Abramoff Convicted Of Fraud

    A California federal jury on Wednesday convicted a cryptocurrency company founder of fraud and money laundering over allegations he stole more than $10 million from tens of thousands of investors in a scheme that involved disgraced ex-lobbyist Jack Abramoff.

  3. March 11, 2025

    Crypto CEO A 'Grifter' Who Stole Millions, Jurors Told

    Cryptocurrency company founder Marcus Andrade is a "grifter" who stole millions and left investors empty-handed, a prosecutor told a California federal jury Tuesday during closing arguments while a defense lawyer said his client was a "dreamer" who acted in good faith and was taken advantage of by ex-lobbyist Jack Abramoff.

  4. February 25, 2025

    FBI Came For Abramoff Asking About Russian Spy-Linked Pal

    Disgraced lobbyist and government witness Jack Abramoff told jurors Tuesday during his cross-examination at the fraud trial of a cryptocurrency company founder he worked for that the FBI initially approached him in 2018 with questions about his connection to a conservative operative once linked to a Russian agent.

  5. February 24, 2025

    Lobbyist Abramoff Testifies At Fraud Trial Against Crypto CEO

    Disgraced Washington, D.C., power broker Jack Abramoff told jurors on Monday that he participated in a conspiracy with the founder of an "anti-money laundering" cryptocurrency company accused of bilking investors out of $5 million, testifying remotely due to a recent cancer diagnosis.

  6. February 12, 2025

    Crypto CEO Made $425K Disappear, Investor Tearfully Testifies

    A former business partner of a Texas man accused of running a $5 million fraud centered on a new "anti-money laundering" cryptocurrency testified tearfully before a California federal jury on Wednesday that her family invested about $425,000 in the defendant's previous cryptocurrency venture and lost every penny.

  7. February 11, 2025

    'Fraudster' Or 'Fool'? Jury Gets 2 Takes On Exec's Crypto Flop

    The criminal case against a cryptocurrency company CEO accused of defrauding investors of $5 million is about "greed," a prosecutor told a California federal jury during opening arguments Tuesday while a defense lawyer characterized his client as a "fool" who floundered while "swimming with sharks," including disgraced ex-lobbyist Jack Abramoff.

  8. January 08, 2021

    SEC Met Howey Test In Bitcoin Fraud Suit, Calif. Judge Says

    Blockchain development company NAC Foundation LLC and its chief executive officer can't shake a U.S. Securities and Exchange Commission civil enforcement action alleging they violated federal laws with a 2017 initial coin offering, a federal judge in California said on Friday.

  9. November 20, 2020

    SEC Fights Abramoff Ally's Bid To Nix Bitcoin Fraud Suit

    The U.S. Securities and Exchange Commission told a California federal judge that its case against a Jack Abramoff-connected company and its CEO that allegedly bilked investors out of $5.6 million for a purportedly improved version of bitcoin should be allowed to go forward because the tokens are a security.

  10. October 20, 2020

    Abramoff-Linked Crypto Firm Seeks Nix Of SEC Fraud Suit

    The developer of an "anti-money laundering" digital token has told a federal judge in San Francisco that it shouldn't have to face U.S. Securities and Exchange Commission fraud claims because the federal regulator had overlooked key "inconvenient facts" when it launched a suit concerning the company's sales pitch.