A Biden-era SEC case in opposition to two executives who allegedly bought unregistered securities for a crypto-powered leaseback program will proceed after a federal decide in New Jersey denied their bids to dismiss the enforcement motion.
The lease agreements at problem meet the definition of securities underneath federal regulation, Choose Zahid N. Quraishi of the US District Court docket for the District of New Jersey stated in an unpublished opinion Monday. He backed the Securities and Alternate Fee’s claims that defendants Anthony Lotito and Joseph Hagan used their respective firms to mislead traders about their Apex Packs bitcoin mining know-how and misappropriated the …
