Shipchain, Founded by John Monarch, Gets Shutdown via SEC Enforcement Action

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🚨 Alert 6/15/22🚨  John Monarch’s co-defendant has implicated him in an alleged blackmail after Monarch attempted to clear his liability by falsely shifting the blame on the co-defendant.   More information to come soon on this.

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John Monarch, Founder and CEO of Shipchain, had his company officially shut down by the Securities Exchange Commission today.

The USA Herald has previously covered alleged fake news articles that were published at Monarch’s direction on Forbes promoting the Shipchain ICO but were later taken down by Forbes staff.  Many investors in the $27.5 million dollar Shipchain ICO had taken to the internet to complain of their money lost due to Monarch’s machinations.

Monarch’s co-founder and Chief Legal Officer of Shipchain, Aaron Kelly, was charged with the task of Chief Compliance Officer.    According to the SEC in a press release related to the Shipchain legal action:

Violations

1.  As a result of the conduct described above, ShipChain violated Section 5(a) of the Securities Act, which states that unless a registration statement is in effect as to a security, it shall be unlawful for any person, directly or indirectly, to make use of any means or instruments of transportation or communication in interstate commerce or of the mails to sell such security through the use or medium of any prospectus or otherwise; or to carry or cause to be carried through the mails or in interstate commerce, by any means or instruments of transportation, any such security for the purpose of sale or for delivery after sale.