Crypto Trader Cannot File For Bankruptcy Amid SEC Lawsuit

Law360 (July 14, 2021, 7:05 p.m. EDT) – Idaho man accused of running a fraudulent cryptocurrency investment program cannot file Chapter 11 cases because the terms of an order restrictive court imposed and a preliminary injunction explicitly prohibit bankruptcy filings, an Idaho federal court has found.

Shawn Cutting and his investment entity, Crypto Traders Management LLC, have not demonstrated any change in circumstances that would justify adjusting the terms of a $ 13.8 million asset freeze, the district judge said on Tuesday. American B. Lynn Winmill.

The court had issued a temporary restraining order freezing assets along with other restrictions after the United States Securities and Exchange Commission filed an enforcement complaint accusing Cutting …

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