Tag: Asset Freeze

US appeals court rejects lenient test for asset freezes in SEC enforcement actions | Reuters

A U.S. appeals court has just deepened a split among the federal circuits on the proper test for asset freezes in cases brought by the U.S. Securities and Exchange Commission. The Philadelphia-based 3rd U.S. Circuit Court of Appeals ruled on Tuesday that the SEC cannot sidestep the stringent, four-part test for obtaining a preliminary injunction when it seeks to freeze…

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Alleged Crypto Scheme Operator Loses Appeal Over Asset Freeze

A cryptocurrency mining company’s indicted CEO isn’t entitled to get access to funds, luxury cars, and boats that were frozen in an SEC enforcement case alleging a multimillion-dollar pyramid scheme, the Eleventh Circuit ruled Monday. Luiz Carlos Capuci Jr., who fled to Brazil after the Securities and Exchange Commission began investigating him, didn’t need to be served with lawsuit papers…

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Judge freezes assets of crypto hedge fund Three Arrows Capital – The Washington Post

A federal bankruptcy court has frozen the assets of Three Arrows Capital, the once-prominent crypto hedge fund that managed as much as $10 billion in assets until it fell into liquidation last month. In an emergency hearing Tuesday, Judge Martin Glenn of the Southern District of New York granted a motion allowing liquidators to “transfer, encumber, or otherwise dispose” of…

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Wyly brothers’ family fights SEC asset freeze in $550 million fraud | Dallas Morning News

The Wyly brothers used gains from secret, illegal, offshore transactions “as their own personal piggybank,” the SEC had said ahead of a Wednesday appeals hearing in New York, where the family sought to lift a judge-imposed freeze on its assets. U.S. District Judge Shira Scheindlin’s order against 16 people, including both men’s wives and 10 children, unfairly applies to “any…

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