The commission acknowledged it had not been “accurate and candid” in earlier filings but said sanctions were not warranted, as its staff didn’t engage “in any bad faith conduct.”
Lawyers representing the United States Securities and Exchange Commission have responded in court over claims they spun a “false narrative” to avoid dismissal of an enforcement case against a mining software firm.
In Dec. 21 filings in U.S. District Court for the District of Utah, Northern Division, the SEC said it had failed to be “accurate and candid” in earlier court filings claiming software firm Debt Box closed certain bank accounts and planned to relocate to the United Arab Emirates in an alleged attempt to escape the commission’s jurisdiction. According to the filing, the SEC failed to correct a misrepresentation of facts presented to the court to secure a temporary restraining order to freeze assets.
“The Commission takes this Court’s concerns seriously and deeply regrets these errors,” said the SEC. “Agency officials are taking steps to ensure those errors are not repeated in this action or other proceedings.”
