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SEC: Former Riot Blockchain CEO agrees to settlement in principle for alleged 'market manipulation'

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The SEC filed a letter saying that it had reached agreements to settle with three defendants in what the agency called a case of 'lucrative market manipulation.' Among those defendants is the former CEO of Riot Blockchain, a company, which was the subject of a CNBC Investigation. The case is unrelated to Riot.

The SEC said in a letter that it reached agreements to settle with three defendants, including the former Riot Blockchain CEO, John O'Rourke, in what the agency had called a case of "lucrative market manipulation."

The SEC charged 20 people and entities in September for what it called "classic pump-and-dump schemes." The Securities and Exchange Commission filed a letter Tuesday morning saying that it had reached agreements to settle with three defendants in what the agency called "Among those to settle are John O'Rourke, former CEO of Riot Blockchain, a cryptocurrency company that was the subject of a"The staff has reached agreements in principle to settle this action with Defendants Michael Brauser, John O'Rourke, and John Stetson, and their affiliated entities," the SEC letter said.

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Life in prison?

No is the answer, but knowing the rules and letting something happen when you know the other person doesn't know the rules or have any experience is worse, especially when there gaining from it, putting the blame on you after that is nasty.

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