Green United LLC failed to dismiss a lawsuit filed by the U.S. SEC accusing its executives of running a fraudulent cryptocurrency mining scheme that earned $18 million from investors.
Defendants Wright Thurston and Kristoffer Krohn, who run Green United LLC, were charged by the SEC with selling "Green Boxes" and "Green nodes" (miners of GREEN tokens on the Green blockchain) in March.
In her Sept. 23 decision, Judge Ann Marie McIff Allen said the defendants had failed to refute the SEC's securities charges, saying they "sufficiently charged all necessary elements of the securities in the form of an investment contract." The judge declined to dismiss the SEC's fraud charges against Thurston, saying his actions created the "illusion" that investors were mining to earn GREEN tokens.
Green United Fails to Dismiss SEC Lawsuit Alleging 18 million Dollar Crypto Mining Scam Scheme
2024-09-24 02:52:54
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