Tag: Blockvest

Judge Cites Blockvest ‘Egregious Misconduct’ in Granting SEC Motion

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A federal judge for the Southern District of California has argued in a recent court filing that blockchain-based assets exchange Blockvest and founder Reginald Buddy Ringgold III should lose their defense in a Securities and Exchange Commission (SEC) case after allegations of fraud and misconduct. Court documents released on April 20 show Judge Michael S. Berg has recommended granting plaintiff SEC’s “Motion for Terminating Sanctions” against Blockvest. “The Court has considered alternative monetary, evidentiary, and issue preclusion sanctions, and concludes that, under the facts of this case, even broad sanctions…

US Court Reconsiders Blockvest Acquittal Over Unlicensed Securities Offer

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The United States Securities and Exchange Commission (SEC) announced it had gained an injunction against initial coin offering (ICO) operator Blockvest, overturning a 2018 court order. The regulator reported the development in a press release published on Feb. 14. Blockvest, which the SEC suspects of offering and attempting to sell unregistered securities via its BLV token sale, will now face fresh charges along with its founder, Reginald Buddy Ringgold, III aka Rasool Abdul Rahim El. “The defendants used the SEC seal without permission and falsely claimed that their crypto fund…

US Court Dismisses SEC’s Claims That Blockvest Sold Unregistered Securities

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A U.S. court has dismissed claims from regulator Securities and Exchange Commission (SEC) against decentralized blockchain-based assets exchange Blockvest, court documents released Nov. 27 confirm. The SEC suspended Blockvest’s Initial Coin Offering (ICO) via an emergency court order in October, with a subsequent legal battle ensuing over whether or not the firm’s BLV tokens were in fact unregistered securities under U.S. law. Part of multiple investigations into unregistered token sales by the regulator, the SEC’ retaliation initially saw U.S. District Court for the Southern District of California issue a temporary…