A Biden-era SEC case against two executives who allegedly sold unregistered securities for a crypto-powered leaseback program will proceed after a federal judge in New Jersey denied their bids to dismiss the enforcement action.
The lease agreements at issue meet the definition of securities under federal law, Judge Zahid N. Quraishi of the US District Court for the District of New Jersey said in an unpublished opinion Monday. He backed the Securities and Exchange Commission’s claims that defendants Anthony Lotito and Joseph Hagan used their respective companies to mislead investors about their Apex Packs bitcoin mining technology and misappropriated the ...
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