Bitcoin

The US SEC on Thursday secured a temporary asset freeze, restraining order and further emergency relief against Digital Licensing, a Draper, Utah-based entity operating as DEBT Box. 
The US Securities and Exchange Commission (SEC) announced it had obtained emergency relief against DEBT Box and four of the company’s principals. 
In its continued crackdown on crypto fraud, the SEC obtained a temporary asset freeze, restraining order, and other emergency relief against Digital Licensing Inc., a Draper, Utah-based entity operating as “DEBT Box.” The agency also acted against four of the company’s principals, Jason Anderson, his brother Jacob Anderson, Schad Brannon, and Roydon Nelson, along with 13 other defendants for their connecting to a scheme to sell crypto asset securities to US investors which raised around $50 million and an undisclosed amount of Bitcoin (BTC) and Ether (ETH). 
According to the securities agency, the defendant sold unregistered securities called “node licenses” to unsuspecting victims. In the scheme, which started operating in March 2021, the defendants said to investors that the licenses would mine crypto and, in turn, increase in value when the defendants actually created the crypto using code on a blockchain. 
Tracy S. Combs, Director of the SEC’s Salt Lake Regional Office, said in a press release: 
“We allege that DEBT Box and its principals lied to investors about virtually every material aspect of their unregistered offering of securities, including by falsely stating that they were engaged in crypto asset mining.” 
Adding, 
“We filed this emergency action to protect the victims of the defendants’ unlawful actions and stop further harm.” 
The SEC charged the 18 defendants, including the four principals mentioned above, with engaging in unregistered securities offerings. 
“DEBT Box, Jason Anderson, Jacob Anderson, Brannon, Nelson, Franklin, Western Oil, and Bowen were also charged with violations of the antifraud provisions of the federal securities laws. Jason Anderson, Jacob Anderson, Brannon, Nelson, Bowen, Mark Schuler, Benjamin Daniels, Joseph Martinez, Travis Flaherty, Brendon Stangis, Matthew Fritzsche, B &amp; B Investment Group, LLC, and iX Global, LLC were charged with acting as unregistered brokers.” 
The SEC charges seek permanent injunctive relief, the return of the ill-gotten gains, and further civil penalties. 
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

SEC Charges 18 Defendants in DEBT Box, Freezes Its Assets

Crypto Daily™

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