Kristoffer Krohn claims the SEC got its application of securities laws wrong, which a federal court agreed with — now he’s asking for an appeals court to decide who is right.
The promotor of Green United, accused of taking part in an $18 million crypto mining fraud scheme, is vying to appeal his case, arguing the Securities and Exchange Commission should be forced to drop the suit as its argument that he allegedly sold securities is wrong.
Kristoffer Krohn told a Utah federal court on Oct. 24 that the Tenth Circuit Appeals Court should decide if buyers of the firm’s equipment meant they joined a “common enterprise,” which the SEC used to allege the company sold investment contracts under securities laws.
“It would be far more efficient and in the interests of justice to have this legal issue presented to the Tenth Circuit and resolved now rather than require Krohn to bear the costs of litigation and trial first,” he wrote in his bid for interlocutory appeal.
