January 15, 2020 by Xavier
At the end of a request filed with the court in the southern district of New York (SDNY) to obtain access to bank records of Telegram in the framework of the investigations on the crypto-sales, the SEC is finally able to see the key points on the ICO prepared by Telegram, in spite of the reluctance of the latter to provide its data for weeks.
The SEC wins the case, thanks to the order by the SDNY
Suspected of having sold, out of his calendar, tokens GRAM to investors, Telegram has suffered harassment weighing of the DRY over a period of months as part of an investigation into its financial data.
The financial regulator accused the company of e-mail, which operated with the ICO that had enabled him to collect $ 1.7 billion in crypto-currencies without legal registration.
In this perspective, the SEC was invited by Telegram to stop any form of campaign of sale of tokens before asking him to disclose its financial data, the company has long been dodged for unknown reasons.
This reluctance has forced the SEC to seek the approval of the justice in new york to access without negotiation in this information, the SDNY granted from a second query. The dossier submitted on January 13, has so far resulted in an order favorable which forces Telegram to provide the justice these documents before 26 February.
The result of the case is likely to prejudice Telegram
The behavior of Telegram to the SEC has created many suspicions on the part of the observers, so that some qualify the project GRAM scammed.
In this case, the hesitation of the platform to provide access to certain folders is fuelling the mistrust, all the more that investors have given notice to withdraw their funds according to the agreed schedule.
In the end, Telegram is mired in a downward spiral that could result in its loss in a case where the SEC could uncover information that might be fraudulent in his crypto-program. Case to follow.
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