Four investors who purchased SmartFi tokens to fund the cryptocurrency company’s lending business can proceed with federal and state securities claims against its founder and CEO, a federal court ruled.
The investors adequately alleged Aaron Tilton’s fraudulent intent, Judge W. Scott Hardy said Tuesday for the US District Court for the Western District of Pennsylvania. And two legal defenses fail to knock out claims involving Power Block Coin LLC, which does business as SmartFi, at this stage of the case, Hardy said.
The opinion adopts the recommendation of a magistrate judge who analyzed Tilton’s request for dismissal in November.
The ...
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