SEC Wins Termination Of Blockvest Suit Due To Forged Docs

Law360 (June 1, 2020, 2:46 PM EDT) — The U.S. Securities and Exchange Commission won terminating sanctions and a default judgment against Blockvest LLC after a California federal court found that the cryptocurrency company’s founder had submitted fake documents during the litigation.

The regulator had sued Blockvest over false advertising ahead of its $2.5 million initial coin offering and in January pushed for terminating sanctions, arguing that founder Reginald Buddy Ringgold III knowingly submitted at least one false and forged declaration and asked other individuals to lie to the court on his behalf.

On Friday, U.S. District Judge Gonzalo P. Curiel adopted a federal magistrate judge’s April report and…

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