SEC resolves trade dispute over alleged illicit trading of a claimed blockchain company’s stock – Bitcoints

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Published on July 10th, 2018 | by bitcoin

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SEC resolves trade dispute over alleged illicit trading of a claimed blockchain company’s stock

SEC resolves trade dispute over alleged illicit trading of a claimed blockchain company’s stockThe U.S. Securities and Exchange Commission (SEC) has settled with two Nevada men over charges that they illegally profited from sales of stock in a claimed blockchain company, according to an SEC release.
The SEC originally alleged on July 2 that attorney T.J. Jesky and his law firm’s business affairs manager Mark DeStefano had allegedly made about $1.4 million by selling stock shares in UBI Blockchain Internet, a Hong Kong-based firm, between Dec. 26, 2017 and Jan. 5, 2018.
Sales of UBI Blockchain’s stock then ceased as the SEC suspended trading activities on Jan. 5, due to questions regarding the company’s public filings and unusual market activities around its stock, including a price spike.
They have also agreed to “be subject to permanent injunctions” on future stock trading.
According to the SEC notice, the investigation is still ongoing.

Source: Www.coindesk.com

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