TechFlow news, on February 17, according to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) has suspended its lawsuit against cryptocurrency mining company Geosyn Mining.
The FBI indictment states that these executives are accused of defrauding customer funds by promising to purchase and host Bitcoin mining equipment for clients, but instead misappropriated the funds for personal expenses. In its previous lawsuit, the SEC alleged that Ward and McNutt defrauded approximately 64 investors of $5.6 million between November 2021 and December 2022.
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