Categories: Market

The SEC is indicting individuals affiliated with a former iced tea mining company

The US Securities and Exchange Commission has filed charges against three people accused of insider trading with the Long Blockchain Company in connection with the name change of the Long Island Iced Tea Company.

In an announcement made Friday, the SEC announced that Eric Watson, Oliver Barret-Lindsay and Gannon Giguiere were appearing in the U.S. District Court for the Southern District of New York for their roles in commerce related to rebranding a beverage company to a blockchain company were charged. which leads to a significant increase in the company’s share price. Giguiere bought 35,000 shares of Long Blockchain after allegedly being notified of the change by Barret-Lindsay, who was first alerted by Watson.

The decision to switch the company from Long Island Iced Tea to Long Blockchain was made in early 2018. After the company was renamed to focus on blockchain development, the share price rose 289% – more than 380% according to the SEC during the day. Giguiere then sold its shares for more than $ 160,000.

The regulatory group said Barret-Lindsay and Giguiere had already pleaded criminally guilty of a stock tampering program but were seeking permanent injunctions and civil sanctions on the three people in the current case. In addition, she tries to prevent Watson from being an officer or director of a public company.

Connected: Former iced tea company converted to blockchain sells beverage subsidiary

Founded in 2011 in New York as a non-alcoholic beverage company, Long Island Iced Tea moved its operations to blockchain and later focused on crypto mining. The SEC official removed the company’s shares from the stock market in February after it meant the company failed to file financial reports.

.

.

CoinX

Recent Posts

Best Coins to Buy Now: Qubetics Sells 200M Tokens to Raise Over $2.7M as Cardano and Avalanche Look to Strengthen Bullish Trend

Best Coins to Buy Now: Qubetics presale raises $2.7M with 200M tokens sold as Cardano…

33 minutes ago

Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025

London, united kingdom, 22nd November 2024, Chainwire

3 hours ago

Robinhood Exec Dan Gallagher Declines SEC Leadership Role

Robinhood Exec Dan Gallagher declined consideration to lead the SEC, affirming his commitment to Robinhood…

3 hours ago

Best Cryptos to Buy in November 2024: What Sets Qubetics Apart from Fantom and Immutable X?

Discover why Qubetics, Fantom, and Immutable X are the best cryptos to buy in November…

4 hours ago

Franklin Templeton Digital Assets and Sui Now Join Hands to Strengthen DeFi Strategy

Sui Foundation partners with Franklin Templeton Digital Assets to enhance DeFi solutions on the blockchain.

4 hours ago

Get Insights on BlockDAG’s $136M Presale Success Revealed in Recent AMA—BTC Soars to $99K, Avalanche Trading Volume Surges

See how Bitcoin confronts $99K resistance, Avalanche enjoys a 23% rise, & BDAG achieves a…

4 hours ago

This website uses cookies.