SEC wins $1.1M as alleged crypto conman a no-show in court

The SEC sued Keith Crews in 2023 alleging he ran a crypto fraud scheme, but he failed to answer the complaint, leading a judge to hand a default win to the regulator.

The US Securities and Exchange Commission has been handed a $1.1 million court victory after a man it accused of running a crypto scam failed to answer the agency’s lawsuit.

A Georgia federal court judge submitted a default judgment in the SEC’s favor on June 3 in its case against Keith Crews, who failed to respond or defend himself against the SEC’s lawsuit that it filed in August 2023. 

Judge Tiffany Johnson ordered Crews to pay financial penalties of over $1.1 million, finding him liable for disgorgement of $530,000 in net profits from his alleged misconduct and ordered him to pay prejudgment interest of almost $51,000 and a civil penalty of $530,000. 

Read more