Odaily Planet Daily News: U.S. Federal Judge Ann Marie McIff Allen of Utah has denied Green United promoter Kristoffer Krohn's request to appeal the September 23 ruling that allows the U.S. Securities and Exchange Commission (SEC) to sue Green United LLC. The judge stated that Krohn did not provide grounds for the appeal. In the argument to dismiss the lawsuit, Krohn claimed that the SEC failed to prove that the Green Boxes offered by Green United were investment contracts, which the regulatory agency claimed in its complaint. He also argued that the SEC confused elements in the Howey test that defines securities. However, Judge Allen stated that Krohn's arguments were incorrect, accusing him of selectively quoting terms from two different definitions and that he "did not provide any legal support to prove that any court adopted the definition he described." In 2023, the SEC charged Green United executives with operating a fraudulent cryptocurrency mining scheme that defrauded investors of $18 million through the sale of Green Boxes and Green Boxes investment products from April 2018 to December 2022. (Cointelegraph)

#SEC