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Deaton Reacts as Court Threatens to Sanction SEC For Lying
Popular legal expert John Deaton sheds light on how courts have continued to call out the Securities and Exchange Commission for lying.
XRP holders’ attorney John Deaton has taken to the X platform to react to a federal judge threatening to sanction the SEC’s lawyers involved in the case against crypto project Debt Box.
Court Threatens Sanction Against SEC Lawyers
On November 30, Judge Robert Shelby warned SEC lawyers in the Debt Box lawsuit that he may sanction them for convincing a court to freeze the company’s assets under false and misleading pretenses.
In an attempt to secure a temporary restraining order, the SEC claimed that Debt Box was closing its accounts and moving its funds out of the United States.
However, the SEC refused to mention that Debt Box’s accounts were being closed by banks. The regulator also failed to note that the funds were moved to a credit union and not out of the United States. Following the SEC’s claim, a federal court froze the company’s bank accounts in August.
With Debt Box proving that the SEC lied to obtain the temporary restraining order, the judge dissolved the order.
Commenting on the development, Judge Shelby pointed out that the SEC’s misrepresentation caused Debt Box irreparable harm and undermined the integrity of the case’s proceedings. Hence, the court threatened to sanction the SEC’s lawyers in the case.
Courts Call Out SEC For Lying
Reacting, Attorney Deaton said the SEC has been called out for lying by every court that has dealt with it in the past three years. Per Deaton, anyone surprised that a federal judge threatened to sanction the SEC for lying has not been attentive in the past three years
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