Kristoffer Krohn Appeals Against SEC's $18 Million Crypto Mining Fraud Allegations

According to PANews, Kristoffer Krohn, a promoter of Green United, is appealing against allegations of his involvement in an $18 million cryptocurrency mining fraud scheme. Krohn argues that the U.S. Securities and Exchange Commission (SEC) should be compelled to withdraw its lawsuit, claiming that the accusations of selling securities are unfounded. On October 24, Krohn presented his case to a federal court in Utah, asserting that the Tenth Circuit Court of Appeals should determine whether buyers of the company's equipment were joining a 'common enterprise,' a basis for the SEC's charges of selling investment contracts under securities law. Krohn stated in his appeal, 'The SEC has not, and cannot, allege that Green Box purchasers have any rights or interests in Green United's business operations profits.' If the appeal is successful, Krohn will be allowed to defend his case before a three-judge appellate panel, a process that could take several months for a final decision. In September, Green United failed to dismiss the SEC's $18 million crypto mining fraud lawsuit.