FBI Probe Can't Freeze SEC's $35M Fraud Suit, Judge Says

Law360 (June 25, 2020, 7:09 PM EDT) -- A Colorado federal judge on Thursday said investment adviser Mediatrix Capital Inc. must continue to face U.S. Securities and Exchange Commission claims that it defrauded investors out of $35 million, saying it didn't matter that the FBI was allegedly conducting a separate investigation.

"Defendants have not yet been indicted, and it is unclear whether they will be or, if so, when," U.S. District Judge Raymond P. Moore said in his order. "Defendants have not shown the circumstances of this case warrant a stay in the interests of justice."

Mediatrix had moved for dismissal in the SEC case for lack of subject matter...

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