The Fair Fund shall be used to compensate harmed investors for losses resulting from the violations determined herein. Any amount remaining in the Fair Fund after all distributions have been made shall be transmitted to the U.S. Treasury.
Down goes Shipchain, and it appears there is more trouble for its founder John Monarch on the horizon.
The Cryptocurrency Bitcoin Blackmail Trial
It is alleged that in 2013Â John Monarch used cryptocurrency bitcoin to blackmail businessman Richard Gorman (who has a financial interest in the USA Herald and helped contribute to this article. Â Gorman also worked with the SEC to help bring action against Monarch for the alleged Shipchain ICO scam that Monarch operated).
Monarch, shortly before admitting to destroying key evidence in the case, pointed his finger at his alleged co-defendant (unnamed)Â in an attempt to shift the full blame of the blackmail.
John Monarch is facing a sanctions motion in the blackmail case in Greenville, South Carolina on January 4th. Â Additionally Monarch is facing a motion to compel the laptop he claims to have wiped clean in violation of a preservation letter he received in 2013.
