Telegram faces SEC lawsuit for allegedly conducting unregistered digital token offering

SEC-Lawsuit-Telegram

Telegram Group and its wholly-owned subsidiary TON Issuer Inc. are facing a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) for allegedly conducting an unregistered digital token offering or initial coin offering (ICO). On Friday, the SEC announced that it obtained an emergency restraining order against Telegram, which raised $1.7 billion selling its digital token called Grams in the United States and overseas. In its complaint, the securities regulator alleged that Telegram sold approximately 2.9 billion Grams to 171 initial purchasers worldwide. In the United States 39 investors…

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Justice Department Busts Credit Card Laundering Scheme Operator

The Department of Justice (DOJ) busted a former CEO of a credit card processing company for allegedly operating a credit card laundering scheme. The U.S. Attorney for the Southern District of New York, Geoffrey Berman filed a lawsuit against former CardReady CEO Brandon Becker on Friday. In the indictment, the U.S. Attorney alleged that Becker created sham merchant accounts to allow access to a credit card processing system for certain deceptive businesses including a telemarketing scheme. Becker through its telemarketing scheme allegedly bilked more than $19 million from thousands of…

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FDA approves first treatment for children with rare blood vessel diseases

The U.S. Food and Drug Administration (FDA) approved the first treatment for children suffering from rare vasculitis or inflammation of the blood vessels. According to the FDA, Genentech received the approval for Rituxan (rituximab) injection in combination with glucocorticoids (steroid hormones) to treat granulomatosis with polyangiitis (GPA) and microscopic polyangiitis (MPA) in children 2 years of age and older. Granulomatosis with polyangiitis (GPA) formerly known as Wegener’s granulomatosis is a rare disease that causes inflammation of the blood vessels in the nose, sinuses, throat, lungs and kidneys. Microscopic polyangiitis (MPA)…

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