Two lawyers from the Securities and Exchange Commission (SEC), Michael Welsh and Joseph Watkins, stepped down from their roles following allegations of negligence in a high-profile crypto case involving Debt Box, a Utah company. (Source: Bloomberg)
More recently, Robert Shelby, the SEC director, faced disciplinary action for the first time in his career. This came after he was accused of acting with gross negligence and ill intentions against DebtBox. The Securities and Exchange Commission had filed an emergency request for a temporary restraining order against the company, alleging its involvement in a $50-million crypto fraud case.
In his decision, Judge Shelby clearly demonstrated how the Securities and Exchange Commission (SEC) harms society by utilizing misleading or deceitful information. The principle of fairness necessitated that the SEC assume the financial burden of Debt Box’s legal costs resulting from their mistakes.
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2024-04-23 01:40