The Securities and Exchange Commission (SEC) says it has received a court order to enforce a subpoena targeting two crypto promoters who participated in the NovaTech investment program.
The US District Court for the Northern District of Texas granted the SEC’s request for documents issued to Dapilinu Dunbar and a subpoena for the production of documents and testimony issued to Corrie Sampson. The SEC submitted investigative subpoenas, but neither Dunbar nor Sampson apparently complied.
The SEC claims that Dunbar and Sampson were high-ranking promoters of a crypto asset investment program marketed under the name NovaTech.
The SEC’s filing alleges that NovaTech uses a multilevel marketing program to recruit investors into its program, and Dunbar and Sampson achieved the second highest and highest ranking within the program.
The SEC states that it is continuing its fact-finding investigation and, to date, has not concluded that any individual or entity has violated the federal securities laws.