Two Charged By SEC For Unlawful Sales Of UBI Blockchain Shares

The US Securities and Exchange Commission (SEC) has accused two people for the illegal sale of UBI Blockchain shares, pursuant to a press release issued on Monday. Lawyer T.J. Jesky and business sphere organizer  Mark F. DeStefano have supposedly made about  USD 1.4 million after implementing an trading  limited stocks.

Chief of the SEC Division of Enforcement’s Cyber Unit Robert A. Cohen mentioned: “This case is a prime example of why the SEC has warned retail investors to be cautious before buying stock in companies that suddenly claim to have a blockchain business.”

Jesky and DeStefano did not recognize or reject the statements, but did agree to back almost USD 1.4 million, and  to pay USD 188 682 in sanctions, and be topic to constant injunctions.

The two Nevada inhabitants got 72 000 limited stocks of the Hong Kong-established firm in October a year ago. T.J. Jesky’s operated as UBI’s lawyer at legislation. Mark F. Destefano is the combined business spheres manager of T.J. Jesky law firm, Jersey Law. The two natural persons were allowed to trade their stocks at a fixed price of USD 3.70. Pursuant to the US monetary watchdog the shares were versa sold at prices scaling from USD 21.12 to USD 48.40