#SEC Wins Default Judgment Against Keith Crews in #Crypto Fraud Case


The Securities and Exchange Commission secured a $1.1 million default judgment against Keith Crews after he failed to respond to fraud allegations.


Judge Tiffany Johnson ordered Crews to pay $530,000 in disgorgement, $51,000 in prejudgment interest, and a $530,000 civil penalty.


The #SEC alleged Crews operated a crypto fraud scheme through Four Square Biz and Stem Biotech between October 2019 and May 2021.


Crews allegedly raised $800,000 from approximately 200 investors through sales of "Stemy Coin," targeting African-American and church communities.


The regulator claimed Crews made false statements about the token being backed by stem cell technology and gold assets.


According to the #SEC, Crews had no actual labs, products, research partners, or stem cell technology despite claims of existing operations.


The judgment includes a permanent ban on future securities law violations for the defendant.

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June 05, 2025 at 11:22 AM