US Court Temporarily Freezes $8M in Response to SEC Request Yesterday By Cointelegraph

US Court Temporarily Freezes $8M in Response to SEC Request Yesterday

A United States District Court has entered an emergency freeze to preserve $8 million of a New York citizen and two of his entities’ related assets following the U.S. Securities and Exchange Commission (SEC) complaint filed on Aug. 12.

Per the SEC’s announcement published on Aug. 13, the court agreed, ordering the temporary freeze of at least $8 million of the $14.8 million Reginald “Reggie” Middleton and two entities under his management, Veritaseum, Inc. and Veritaseum, LLC raised in 2017 and 2018 by conducting a fraudulent and unregistered initial coin offering (ICO). The SEC specifically alleges the defendands of violating the registration and antifraud provisions of the U.S. federal securities laws, as well as manipulative trading.

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