The Securities and Exchange Commission (SEC) has secured a final judgment against siblings who orchestrated fraudulent crypto scheme Ormeus Global.
The U.S. District Court for the Southern District of New York has entered a final judgment against John and JonAtina (Tina) Barksdale ordering permanent injunctions, disgorgement with interest, and civil penalties.
The SEC’s complaint alleged that from June 2017 to March 2022, the Barksdales raised tens of millions of dollars through two unregistered fraudulent offerings of securities involving a crypto asset called “Ormeus Coin.”
In addition, the SEC alleged that from June 2017 to April 2018, through a multi-level marketing business called Ormeus Global, the Barksdales offered and sold subscription packages that included Ormeus Coin.
As alleged…
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