John Monarch, CEO of Shipchain, Sued for Alleged Bitcoin Cryptocurrency Scheme
America ı By Rochdi Rais
0 Comments
“The world’s social media platforms and financial markets are abuzz about cryptocurrencies and initial coin offerings,” Clayton said. “There are tales of fortunes made and dreamed to be made.”
“Investors should understand that to date no initial coin offerings have been registered with the SEC. The SEC also has not to date approved for listing and trading any exchange-traded products (such as ETFs) holding cryptocurrencies or other assets related to cryptocurrencies. If any person today tells you otherwise, be especially wary.“
Many companies have shied away from the ICO designation, opting instead for “utility ICO” or “token generation event” as to distance themselves from the regulated world of securities. Clayton said games with semantics won’t fly with the SEC.
“Many of these assertions appear to elevate form over substance,” he said. “Merely calling a token a “utility” token or structuring it to provide some utility does not prevent the token from being a security.”
The international nature of cryptocurrencies can also pose a threat to investors, Clayton said:
“Please also recognize that these markets span national borders and that significant trading may occur on systems and platforms outside the United States. Your invested funds may quickly travel overseas without your knowledge. As a result, risks can be amplified, including the risk that market regulators, such as the SEC, may not be able to effectively pursue bad actors or recover funds.”
Earlier this year Monarch had found himself in default due to his lawyers legal errors. Last month the judge presiding over the case against Monarch in South Carolina set the case on trial, stating that it should be tried on the “merits.”
According to Gorman “There will be a trial. It will be very public. And any result less than the forfeiture of all of Monarch’s assets to me will be considered, in my opinion, as a grave miscarriage of justice.”
John Monarch was contacted prior to the release of this article for comment and did not respond.
Have a tip on this case? Contact us at [email protected].
RELATED ARTICLES:
*5/16/18 ALERT! South Carolina Man Links to $100M+ in Alleged Scams – CLICK TO READ
Discussion
No comments yet. Be the first to join the discussion!
FOLLOW US
Recent Posts
Strong 5.6 Earthquake Strikes Northern California — Bay Area Jolted…
Federal Judge Strikes Down Trump ICE Policy Allowing Mass Arrests…
Camp Mystic — Site of Deadliest Texas Flood in Years…
Trump Abruptly Cancels Major Housing Bill Signing — Holds It…
California Earthquake Shakes Northern Region, Triggering Alerts Across the Bay…
Bondi Beach Hero Pleads Not Guilty as His Family Threatens…
Kylie Jenner Just Dropped Her Own Meta Glasses And The…
Don’t Miss It
SpaceX Stock Stages Stunning Comeback After Brutal Three-Day Plunge That Wiped Billions Off Its Market Cap
By – Tyler BrooksNorth Carolina Just Made History: Governor Signs Nation’s First-Ever Ban on Lawsuit Investors: Here’s What It Means for You
By – Tyler BrooksIs That Really the Sheriff? Local Teacher Shares Chilling Warning After Targeted Scam Attempt
By – Tyler Brooks“I Trusted Them”: North Carolina Man Lost $750,000 in a Brutal “Pig Butchering” Crypto Scam
By – Tyler BrooksAlibaba Strikes Back: Inside the Tech Giant’s Explosive Lawsuit Against the Pentagon
By – Tyler Brooks“I Should Have Dug Deeper”: Bill Gates Finally Addresses His Controversial Ties to Jeffrey Epstein in Explosive Congressional Testimony
By – Tyler BrooksSt. Louis County Couple Facing Severe Charges Following Discovery of Years of Child Abuse
By – Tyler BrooksHow Zohran Mamdani’s Insurgents Just Rewrote the Rules of the Democratic Party
By – Tyler Brooks
Kelly Warner Law Firm Blames USA…
6/25/17 Learning of Mr. Levy’s filing to vacate another fraudulent…
By – USA Herald
Aaron Kelly Law Firm Resorts To…
Professor Volokh thereafter filed a bar complaint against Dan Warner…
By – Jeff Watterson
Arizona Bar Opens Investigation on Attorney…
USA Herald recently reported on a developing story involving Attorneys…
By – Paul O'Neal
Paris Rejects the “Looksmaxxing” Influencer: Why…
The Lesson of the Marais The irony was not lost…
By – Tyler Brooks
€100,000 Reward Offered in Hunt for…
Live updates 16:40 CEST Reward of €100,000 formally confirmed by…
By – Tyler Brooks
The Sleight-of-Hand City
Three blocks from the Sofitel Which brings us to a…
By – Tyler Brooks
Was Marilyn Monroe Murdered?
He suggested it is difficult to understand why such an…
By – Jackie Allen
‘I Have Met Non-Human Intelligence in…
By Samuel López | USA Herald They walk among us.…
By – Samuel Lopez
Biden Cognitive Issues: Court Fight Over…
The appellate courts are expected to determine in the coming…
By – Jackie Allen
Biden Cognitive Issues: Court Fight Over…
The appellate courts are expected to determine in the coming…
By – Jackie Allen
Tesla Self-Driving Car Crashes Into Texas…
Federal safety regulators in the United States have launched a…
By – Tyler Brooks
NASA Astronaut Heading to Space Station…
For decades, the question of whether life exists beyond Earth…
By – Tyler Brooks
Chevron Locks in 20-Year Deal to…
In a landmark partnership that underscores the growing energy demands…
By – Rihem Akkouche
World Cup History Made as Lionel…
A Record Linked to Argentina’s Rich World Cup Legacy The…
By – Jackie Allen
Lucid Motors Slashes 18% of U.S.…
Lucid Group, the luxury electric vehicle maker once seen as…
By – Rihem Akkouche
Final Wish: Oliver Tree’s Family Honors…
A Career Defined by Creativity Oliver Tree rose to international…
By – Jackie Allen
Reflecting Pool Incident Leads to Arrest…
History of the Lincoln Memorial Reflecting Pool The Lincoln Memorial…
By – Jackie Allen
Nuclear Talks Begin in Switzerland as…
President Donald Trump’s administration has defended the interim agreement as…
By – Jackie Allen
Pizza Hut to Be Sold in…
One of its franchisees, which operates more than 100 restaurants…
By – Jackie Allen
Jane Street Emerges from the Shadows…
The office lighting automatically changes throughout the day to align…
By – Jackie Allen
Peace Agreement Between US and Iran…
Questions Remain Over Final Peace Agreement Although the memorandum lays…
By – Jackie Allen
Peace Agreement Between US and Iran…
Questions Remain Over Final Peace Agreement Although the memorandum lays…
By – Jackie Allen
Internet’s First Serial Killer Used Early…
Relevant Links FBI Law Enforcement Bulletin Kansas Supreme Court Decision…
By – Jackie Allen
The 9-Second Disaster: The Edge of…
The AI’s “Confession” and the Breach of Principles Following…
By – Jackie Allen
Southern Poverty Law Center Indictments Linked…
Following Pierce’s death in 2002, the organization experienced years of…
By – Jackie Allen
Anna Kepner Killing: Federal Judge Orders…
Her family’s obituary described her as “pure energy,” a life…
By – Jackie Allen
Kourtney Kardashian Celebrates Travis Barker on…
Kourtney Kardashian had plenty of love to share this Father’s…
By – Tyler Brooks
Jay-Z and Roc Nation Win Major…
The legal war between rap mogul Jay-Z and Houston-based attorney…
By – Tyler Brooks
Lucid Motors Slashes 18% of U.S.…
Lucid Group, the luxury electric vehicle maker once seen as…
By – Rihem Akkouche
GTA 6 Music File Discovered in…
With GTA 6 pre-orders officially opening on Thursday, June 25,…
By – Tyler Brooks
Toy Story 5 Shatters Box Office…
Three Decades of Woody and Buzz: The Legacy of Toy…
By – Tyler Brooks
BTS Comeback Tour Ticket Chaos: Fans…
In 2019, she traveled alone to Bangkok to attend a…
By – Tyler Brooks
Your Blood Pressure Reading May Be…
Millions of people living with high blood pressure believe that…
By – Tyler Brooks
Nichelle Nichols’ Final Mission Ends in…
By Samuel López | USA Herald The woman who helped…
By – Samuel Lopez
Cannabis Giants Hit with Sweeping Class…
YOU MAY BE ENTITLED TO COMPENSATION Weitz & Luxenberg is…
By – Samuel Lopez
New Pill Doubles Survival for Pancreatic…
Federal Agencies Rush Public Patient Access The dramatic clinical success…
By – Tyler Brooks
FDA warns public as cookie firm…
“The FDA is issuing this alert to ensure customers are…
By – Tyler Brooks
Trump orders CDC to slash childhood…
Pediatricians Defy New Rules as Legal Battle Escalates The administration’s…
By – Tyler Brooks
Lionel Messi, at 39, Shatters All-Time…
Lionel Messi has done it again. The Argentine superstar etched…
By – Rihem Akkouche
Will a Massive Storm Derail the…
Will the Match Be Postponed? Despite the alarming forecast, organizers…
By – Tyler Brooks
Extraterrestrial Kickoff? Viral Psychic Warns of…
Examining the Psychic’s Track Record Vó Bahiana is no newcomer…
By – Tyler Brooks
Dana White Declares The Historic UFC…
Ignoring the Noise The lead-up to UFC Freedom 250 was…
By – Tyler Brooks
Pulisic Is Not Training. What Happens…
Mauricio Pochettino pulled Christian Pulisic at halftime of the USMNT’s…
By – Nicolas Carreno
New York Chaos Erupts After Knicks…
Fatal Shooting Under Investigation In Brooklyn, a separate fatal shooting…
By – Jackie AllenNo posts found.
No posts found.
