“As alleged in our criticism, Al-Naji tried to evade the federal securities legal guidelines and defraud the investing public, mistakenly believing that ‘being “pretend” decentralized typically confuses regulators and deters them from going after you,’” mentioned Gurbir S. Grewal, Director of the SEC’s Division of Enforcement in a press launch. “He’s clearly fallacious: as we’ve got proven repeatedly, and as mirrored within the SEC’s detailed allegations right here, we’re guided by financial realities, not beauty labels. The devoted employees of the SEC uncovered Al-Naji’s lies and can now maintain him accountable for deceptive buyers.”
