SEC Wants Subpoenas Enforced For ICO Pump & Dump Inquiry

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The U.S. Securities and Exchange Commission has asked a California federal court to enforce its June subpoenas for documents related to an alleged pump-and-dump scheme that involved claims of a $100 million ICO (initial coin offering).

Officials at the U.S. regulator are investigating Saint James Holding and Investment Company Trust and its trustee, Jeffrey James, months after the agency first moved to suspend trading in penny-stock company Cherubim Interests, Inc.

According to yesterday’s statement, the SEC believes that Cherubim issued false public statements, claiming that the company had “executed a $100,000,000 financing commitment” to launch an ICO for St. James Trust.”

“The SEC’s application seeks an order from the court compelling James and St. James Trust to produce all...

Read More: https://news.bitzamp.com/sec-wants-subpoenas-enforced-for-ico-pump-dump-inquiry/