On March 6, three individuals including former Riot Blockchain CEO John O’Rourke III agreed to settle with the United States Securities and Exchange Commission (SEC) for $3.5 million over three alleged penny stock pump-and-dump schemes.
The terms of the settlement will see Michael Brauser, John Stetson, and O’Rourke pay disgorgement, prejudgment interest and civil penalties. The trio will not admit or deny the allegations laid out in the SEC’s 2018 enforcement action against the trio.