Avi Einsenberg did the same with Mango Markets,
got away with 110M and is now looking at 20 year sentence
And Mango was being sued by the SEC too https://www.sec.gov/newsroom/press-releases/2024-154
> SEC Charges Entities Operating Crypto Asset Trading Platform Mango Markets for Unregistered Offers and Sales of the Platform’s “MNGO” Governance Tokens
> Pair of affiliated entities separately charged for acting as unregistered brokers
Avi Einsenberg did the same with Mango Markets,
got away with 110M and is now looking at 20 year sentence
And Mango was being sued by the SEC too https://www.sec.gov/newsroom/press-releases/2024-154
> SEC Charges Entities Operating Crypto Asset Trading Platform Mango Markets for Unregistered Offers and Sales of the Platform’s “MNGO” Governance Tokens
> Pair of affiliated entities separately charged for acting as unregistered brokers