U.S. Securities and Exchange Commission building. (Photo: Diego M. Radzinschi/ALM) SEC Charges Apex Partner Behind $852K Alleged Crypto Fraud
"This shows that individuals appear to be still using crypto as bait to lure investors into what are essentially old-fashioned get-rich-quick schemes," said Arlo Devlin-Brown, a partner at Covington & Burling.
September 11, 2024 at 12:24 PM
4 minute read
Cryptocurrency
What You Need to Know
- The U.S. Securities and Exchange Commission sued an investment fund manager in a federal district court in Alabama.
- Apex Financial Institute Pvt. Ltd. had at least $852,000 in crypto assets from approximately 70 domestic and international investors.
- An expert not involved in the matter said,
The U.S. Securities and Exchange Commission charged a private fund manager in a federal district court in Alabama with defrauding approximately 70 domestic and international investors from whom he raised at least $852,000 of crypto assets.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Shaq Signs $11 Million Settlement to Resolve Astrals Investor Claims
5 minute read
Am Law 100 Partners on Trump’s Short List to Replace Gensler as SEC Chair
4 minute readLaw Firms Mentioned
Trending Stories
- 1Legal Events for Georgia Lawyers
- 2'There is No Time to Waste': Matt Gaetz Withdraws From AG Nomination
- 3The Growing PFAS Morass: Why Insurance Should Cover These Products Liability Claims
- 4Dallas Jury Awards $98.65M in Botham Jean Killing by Dallas Officer
- 5In Talc Bankruptcy, Andy Birchfield Skipped His Deposition. Could He Face Sanctions?
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
