SEC Requests UK’s Intervention to Force Telegram’s Former Advisor to Testify

Originally reported by-Cryptocurrency News 24/7 |

America Securities and Change Commission (SEC) requested the High Courtroom of England and Wales to pressure Telegram’s former chief investment advisor John Hyman to testify in the case over the firm’s Grams tokens offering.

Business news outlet Coindesk reported on Dec. 7 that the SEC’s request was revealed by paperwork filed by the regulator with the U.S. District Courtroom for the Southern District of New York yesterday. 

Security or not?

As Cointelegraph beforehand reported, the SEC is convinced that Telegram’s Grams tokens are unregistered securities. In accordance with the regulator, Telegram claimed that its Grams Purchase Agreements but didn't claim the same concerning the precise tokens. Moreover, “in any occasion, the exemption from registration underneath Regulation D is just not obtainable to Telegram.”

Per the filing, the SEC is trying to acquire Hyman’s testimony because of his involvement in Telegram’s fundraising efforts. He reportedly communicated with “over a dozen” buyers of the firm’s Telegram Open Community (TON). In accordance with the paperwork, Telegram CEO Pavel Durov outlined him in January final yr as the one that “runs the distribution of Grams.”

The U.S. regulator requested the U.Okay.’s authorities to challenge a Letter of Request for Hyman’s deposition, given that he is a United Kingdom’s citizen and resides there. In accordance with the filing, the SEC lawyer previously contacted Hyman’s counsel and Hyman agreed to seem for a voluntary deposition.

Nonetheless, later Hyman’s counsel allegedly “refused to return multiple telephone calls and emails relating to Mr. Hyman’s deposition.” Aside from his testimony, the SEC can also be trying to acquire copies of Hyman’s written communications with Telegram’s management and buyers, paperwork about his employment at Telegram and his personal funding in grams. 

As Cointelegraph reported on the finish of November, a United States federal decide has preserved the SEC’s transfer to strike Telegram’s defence “for vagueness/lack of notice.”

Jared Leto invested in Telegram’s TON?

The documents additionally include e-mail exchanges between Durov and potential Grams token consumers. Apparently, this consists of communications with Kleiner Perkins’ companion Mamoon Hamid, who was introduced to Durov by a person named Jared Leto.

While it is unclear whether or not the individual is the popular singer and actor himself, he used an e mail handle hosted on the movie star’s official area

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