Description
BarnBridge DAO and founding developers settle with the SEC, paying $1.5 million in disgorgement and penalties for violations of the Securities Act and the Investment Company Act related to a DeFi "structured finance" bond product which the SEC alleged were sold as unregistered securities. BarnBridge founders Ward and Murray have each agreed to pay $125,000 civil penalty.
Legal Significance
The SMART Yield pools were alleged to be unregistered Investment Companies under the Investment Company Act of 1940.
Status
Settled
Case No.
Ward/Murray: File No. 3-21815 Barnbridge: File No. 3-21817
Date Filed
December 22, 2023
Plaintiff
SEC
Defendant
BarnBridge DAOTyler WardTroy Murray
Court
-
Plaintiff Counsel
-
Defendant Counsel
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