In a suit filed a month ago by the SEC against Texas-based AriseBank for alleged securities violations related to an ICO, U.S. District Chief Judge Barbara Lynn appointed Jones Day partner Mark Rasmussen in Dallas as the first-ever neutral receiver in an ICO enforcement action. In his new role, Rasmussen will oversee all the assets of AriseBank and its affiliates. AriseBank, which calls itself a “decentralized bank,” claims to have raised more than $600 million from an ICO that the SEC considers to be a fraud by AriseBank and its founders, Stanley Ford and Jared Rice Sr.
‘Enforcement 40’ for 2020
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