Digital Currency Seller Ordered To Return $1.2B To Investors To Settle SEC Suit

Mealey's (June 29, 2020, 2:19 PM EDT) -- NEW YORK — A federal judge in New York on June 26 issued a final judgement ordering two offshore entities to return over $1.2 billion in investments to investors in digital tokens and pay an $18.5 million civil penalty to settle claims that the defendants violated federal securities laws by engaging in an offering of the digital-asset tokens in violation of the registration provisions of the securities laws (Securities and Exchange Commission v. Telegram Group Inc., et al., No. 19-9439, S.D. N.Y.)....

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