SEC v. DeSalvo

The SEC sues DeSalvo, a former New Jersey State Correctional Officer, for securities fraud related to his creation and promotion of the Blazar Token. DeSalvo falsely marketed the token as a secure and profitable investment that would replace existing state pension systems and falsely claimed that the token was registered with the SEC. DeSalvo misappropriated the funds raised for personal use.

This case emphasizes the SEC’s monitoring and prosecution of fraudulent schemes, especially when they involve misrepresentation and the misuse of investor funds.

2:23-cv-08092