Law360 (June 26, 2020, 4:12 PM EDT) — The U.S. Securities and Exchange Commission on Thursday asked a federal judge in California to approve a settlement for a one-time principal of a cryptocurrency company accused of playing a role in a fraudulent sales pitch for the company’s digital assets.
According to the terms of a proposed judgment filed on June 25, Dropil Inc. co-founder and former chief operating officer Patrick O’Hara will have to pay an as-yet-undetermined sum in connection with the alleged fraud, along with prejudgment interest and a civil penalty. The SEC specified that the prejudgment interest would be calculated from a Jan. 31, 2018, starting point,…
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