A judge in Utah has ruled that the US Securities and Exchange Commission's (SEC) lawsuit against Green United can proceed to trial. The SEC accused the Utah-based company of scamming investors out of $18 million by selling them fake crypto mining equipment through a multi-level marketing scheme. Investors were led to believe that the equipment would generate monthly returns, but the SEC alleges that the equipment was never provided and the crypto mining claims were false. The judge's ruling allows the case to proceed, and it has generated discussion in the crypto community about the classification of crypto mining devices as securities.
- Content Editor ( coindesk.com )
- 2024-09-26
Utah Judge Rules SEC’s Case Against Alleged Crypto Mining Scam Green United Can Proceed to Trial