SEC Secures $1.1 Million Judgment Against Keith Crews in Cryptocurrency Scam Case

According to a recent ruling reported by COINOTAG News on June 5th, the U.S. Securities and Exchange Commission (SEC) secured a $1.1 million judgment in a cryptocurrency fraud case. The judgment was issued by a Georgia federal court after the defendant, Keith Crews, failed to respond to the SEC’s allegations. The lawsuit, initiated in August 2023, accused Crews of engaging in fraudulent activities within the crypto market. The court’s default judgment mandates Crews to return $530,000 in illicit proceeds, pay nearly $51,000 in prejudgment interest, and a civil penalty of $530,000. Additionally, Judge Tiffany Johnson imposed a permanent injunction barring Crews from any future violations of securities laws. This case underscores the SEC’s ongoing commitment to enforcing regulatory compliance and protecting investors from fraudulent schemes in the rapidly evolving cryptocurrency sector.