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Technicality Saves Blockvest From Default Judgement In Fraud Case
Summary: Blockvest, the company currently ensnared in a lawsuit with the SEC over an initial coin offering (ICO), has obtained a minor victory in a similar case filed by an elderly couple. The lawsuit against Blockvest was filed by Tommy and Christine Garrison, who have accused the project of violating securities laws and regulations, engaging in ...
Blockvest, the company currently ensnared in a lawsuit with the SEC over an initial coin offering (ICO), has obtained a minor victory in a similar case filed by an elderly couple.
The lawsuit against Blockvest was filed by Tommy and Christine Garrison, who have accused the project of violating securities laws and regulations, engaging in unlawful business conduct and financial elder abuse.
The Garrisons had filed their case against Rosegold Investments and Master Investment Group. They also cited Reginald Buddy Ringgold, III, aka Rasool Abdul Rahim El, as a defendant.
Ringgold filed an answer himself, while the companies never responded to the lawsuit, they were then put in default liability on Sep. 25, 2019, due to lack of opposition. However, the court overturned this decision On Jan. 21 and vacated the default decision, stating that because Ringgold is the founder and managing director of both companies that his answer was enough
By Ramsey Baker
Tags: Blockvest,Fraud,technicality
Link: Technicality Saves Blockvest From Default Judgement In Fraud Case [Copy]
