Jack Abramoff, the infamous lobbyist, has settled with the Securities and Exchange Commission (SEC) regarding allegations of an illicit digital asset offering.
As was previously reported, Abramoff, along with NAC Foundation (National Aten Coin) and its CEO Marcus Andrade were charged with selling a digital asset security, AML Bitcoin, that was said to be an unregistered security offering.
Last week, it was reported that Abramoff had pleaded guilty on charges of conspiracy and violating the Lobbying Disclosure Act for his involvement in the alleged crypto scam in a deal revealed at the end of June.
Abramoff was a high profile lobbyist during the 1990s and early 2000s. In January 2006, Abramoff was sentenced to 6 years in federal prison for fraud, tax evasion and bribing public officials pertaining to a lobbying scandal that involved high profile politicians and Native American tribes seeking to develop casinos. He was released from prison in 2010.
SEC v. Jack Abramoff 34-89336