According to several legal experts, Monarch’s business partner and attorney, Aaron Kelly, and his law partner Daniel Warner, are facing the most egregious bar complaint seen in years.  It is believed that both attorneys will get disbarred this year.
It may be more than a coincidence that the SEC is now targeting lawyers that are assisting companies like Shipchain that are offering ICO cryptocurrency sales, which the SEC has claimed is a securities violation.  Shipchain’s general counsel, Julian Zegelman, could face legal consequences in his role in the ICO offerings at Shipchain.
“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.“
