The U.S. Securities and Exchange Commission on Wednesday unsealed a complaint against a cryptocurrency company and its founder alleging that they falsely claimed its initial coin offering had the backing of the SEC.
The complaint against Blockvest and its founder, Reginald Buddy Ringgold III, was filed on Oct. 3, and on Oct. 5 Judge Gonzalo P. Curiel of the U.S District Court for the Southern District of California signed a temporary restraining order halting pre-ICO sales by Blockvest and Ringgold. The order also freezes Ringgold’s and Blockvest’s assets. Curiel also ordered that the defendants provide the SEC with a full list of their assets exceeding $5,000.
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