Crypto assist by the 8 Determine Way of life Dream defendants can be liquidated on the present market price.
A preliminary injunction granted final July froze the property of John Bain, Alex Dee, Brian Kaplan and Jerrold Maurer.
The above defendants ran the 8 Determine Dream Way of life gifting scheme. Final June the the FTC sued Bain, Dee, Kaplan and Maurer for telemarketing and shopper fraud.
The granted injunction, which froze the defendants property, included their cryptocurrency holdings.
On Could fifteenth the FTC sought an order allowing liquidation of the defendant’s disclosed cryptocurrency holdings.
The explanation for the requested liquidation was cryptocurrency being a “unstable asset”. By means of liquidation, the FTC sought to “protect the worth” of the defendant’s property.
On Could nineteenth the court docket accredited the FTC’s movement, ordering the defendants liquidate their cryptocurrency holdings.
Every Stipulating Defendant shall trade his cryptocurrency for United States forex at prevailing market charges for the buying and selling exchanges used.
The online proceeds from every Stipulating Defendant’s exchanges of cryptocurrency for United States forex shall stay frozen beneath Part IV of the Preliminary Injunction till additional order of this Court docket.
Keep tuned for updates on the case as we proceed to trace it.