For
BitConnect Unregistered Securities Maasden
Enjoined in SDNY and Must Disgorge
$477,408
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- ESPN
SDNY COURTHOUSE,
Oct 18 – Ryan Maasen was sued
by the SEC, along with others,
for his role in BitConnect,
selling what the SEC calls
unregistered securities
through BitConnect's lending
program.
On October 18 U.S. District
Court for the Southern
District of New York Judge
John G. Koeltl held a
proceeding. Inner City Press
covered it.
While an
amended summons has been
issued as to co-defendant
Craig Grant, on October 18 as
to Maasen it was ordered he is
enjoined from violating
Section 5 of the Securities
Act of 1933, and must disgorge
$477,408.
The case is
Securities and Exchange
Commission v. Brown et al.,
21-cv-4791 (Koeltl)
***
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