0.0237 s - время 44 - запросов
BTC $ 6494.03150988 (0.83 %)
ETH $ 293.036707347 (-2.83 %)
XRP $ 0.3365240688 (-3.18 %)
BCH $ 549.871945699 (-3.35 %)
EOS $ 5.1168117967 (-3.21 %)
XLM $ 0.2249886975 (0.15 %)
LTC $ 56.2654210338 (-2.08 %)
USDT $ 1.0066570908 (0.62 %)
ADA $ 0.0989424831 (-3.32 %)
XMR $ 97.3620184049 (-0.26 %)

US Court To Continue Considering ICO Fraud Case Against Tezos Foundation

Published: 09/08/2018
share:

Up-to-date Blockchain and cryptocurrency news. Be the first to know!

What is it for?

On Tuesday, August 7, Californian Federal Court’s Judge Richard Seeborg dismissed a cancellation petition of a collective lawsuit in which the Tezos Foundation's representatives were accused of violating laws during the ICO, Coindesk reports.

 

The cancellation petition was applied by the Tezos Foundation’s representatives together with Kathleen and Arthur Brietman, and their company Dynamic Ledger Solutions (DLS). Earlier, 4 lawsuits against the Tezos Foundation and DLS asserted that the companies were trading illegal shares without registration to the US investors during the ICO, during which they managed to collect $232 million. All these claims were united into one case named «In Re Tezos Securities Litigations», where the lead plaintiff is Arman Anvari.

 

Tezos Foundation`s logo (Source:https://twitter.com/tezosfoundation)

 

The Brietman spouses claimed before the court that they and their DLS company were not related to the ICO, which was managed by the Swiss company the Tezos Foundation. Another argument of the Brietman was that the ICO was held outside the US, so it can not be viewed through the prism of the American law.

 

But the judge had a different opinion and said that DLS was directly involved in supporting the Tezos Foundation, which made it possible to practically call the companies permutable during the ICO process. At the same time, the judge noted that all ICO transactions were made through a site located in Arizona, also Arthur Brietman himself supported this business process from California, and ICO promotion was aimed at attracting the US residents. The judge also excluded the Bitcoin Suisse crypto project from this process as this company was not directly related to the case.

 

As previously reported, schemes for the cryptocurrencies’ prices manipulations allowed scammers to earn $825 million in six months.

Found a mistake? Highlight it and press Ctrl + Enter to notify the administrator.
USA law cryptocurrency Tezos
share: