Trevon James & Craig Grant Are Being Sued by the SEC for Bitconnect
Trevon James & Craig Grant Are Being Sued for Bitconnect
Crypto Market Update for May 30th, 2021
It appears that the SEC wants Trevon James, Craig Grant and a few other Bitconnect promoters to pay back all the money they earned from Bitconnect.
Here is an excerpt from the actual court filing detailing what the SEC wants.
NATURE OF THE PROCEEDINGS AND RELIEF SOUGHT
12. The SEC brings this action pursuant to the authority conferred upon it by Securities
Act Section 20(b) and Section 20(d) [15 U.S.C. §§ 77t(b) and 77t(d)] and Exchange Act Section 21(d)
[15 U.S.C. § 78u(d)].
13. The SEC seeks a final judgment: (a) permanently enjoining Defendants from
violating the federal securities laws and rules this Complaint alleges they have violated; (b)
permanently enjoining Defendants as specified in the Prayer for Relief below; (c) ordering
Defendants and Mascola to disgorge all ill-gotten gains and/or unjust enrichment they received as a
result of the violations alleged herein and to pay prejudgment interest thereon, pursuant to
Exchange Act Sections 21(d)(5) and 21(d)(7) [15 U.S.C. §§ 78u(d)(5) and 78u(d)(7)]; (d) ordering
Defendants to pay civil money penalties pursuant to Securities Act Section 20(d) [15 U.S.C. § 77t(d)]
and, with respect to Defendants Brown, Grant, Maasen, and Noble, pursuant to Exchange Act
Section 21(d)(3) [15 U.S.C. § 78u(d)(3)]; and (e) ordering any other and further relief the Court may
deem just and proper.