In a fraud case of $30,000,000 the SEC has extended charges to include an additional three accused allegedly involved in the deception.
The investigated fraud was led in collaboration with criminal partner Edith Pardo by convicted fraudster Boaz Manor. The two businesses that claimed that Manor and Pardo were developing blockchain-enabled tools for hedge funds created C.G. Blockchain and BCT Inc. The U.S. Securities Regulatory Authority had already bought Manor, Pardo, and their companies from January 2020.
The prolonged accusations are presented against three new defendants: Ali Asif Hamid, Michael Gietz, and Cristine Page, also known as Cristina Page.
According to the SEC complaint, Hamid, Gietz and Page are indicted for the breach or assistance of antifraud provisions under U.S. securities law and offenses relating to the necessity of securities registration.
The SEC complaint seeks disgust with interest, penalties, and redress. To date, Page has agreed to a settlement without acceptance of responsibility, with a fine of $192,768 pending court approval.
The contents of the lawsuit and the nature of the charges against the parties are given out by the SEC in its press announcement.
“According to the SEC’s complaint filed in the U.S. District Court for the District of New Jersey, defendants Ali Asif Hamid of Oakville, Ontario, Canada, Michael Gietz of Idaho Falls, Idaho, and Cristine Page of Brooklyn, New York, played leadership roles in an ICO that would purportedly fund the development of technology to trade digital assets, while at the same time actively hiding Manor’s role as the head of this venture.”
“The SEC’s complaint charges Hamid, Gietz, and Page with violating and aiding and abetting violations of the antifraud provisions of the federal securities laws and with violating securities registration requirements. The complaint seeks disgorgement of ill-gotten gains plus interest, penalties, and injunctive relief.”