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  • Blockchain Timeline

Two SEC lawyers resign after judge sanctioned their case for false and misleading representations

Michael Welsh and Joseph Watkins stepped down after an SEC official told them that they would be terminated if they stayed. The pair were lead attorneys on the case against DEBT Box platform since July.

A federal district court judge who is hearing the case sanctioned the SEC after realising that the two layers presented false statements, misrepresentations and lack of evidence. In December the SEC apologised to the court for its lawyer's conduct.

Earlier this month, the SEC moved to dismiss the case against DEBT Box. The company's lawyers are requesting the SEC pay $1.5 million in fess and other costs incurred in the case.


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