The U.S. Securities and Exchange Commission sued Block Bits Capital, Block Bits Capital, GP I LLC and Japheth Dillman Wednesday in California Northern District Court over alleged violations of federal securities laws. The lawsuit accuses the defendants of defrauding investors of approximately $1 million by offering and selling unregistered securities. Attorneys have not yet appeared for the defendants. The case is 3:22-cv-02563, Securities and Exchange Commission v. Block Bits Capital, LLC et al.
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