Two SEC lawyers have resigned following controversies in the regulator’s legal case against crypto firm DEBT Box.
Bloomberg reported on April 22 that Michael Welsh and Joseph Watkins, who served as lead SEC attorneys in the ongoing case, resigned in April. The regulator reportedly intended to terminate both lawyers if they did not resign.
Bloomberg said neither Welsh nor Watkins responded to its request for comments. The SEC and a union representative also declined to comment.
Neither individual has updated their LinkedIn page to include the resignation. The two had been serving as SEC trial lawyers for approximately 18 months.
DEBT Box Case
Welsh and Watkins’ handling of the DEBT Box case produced massive controversy due to inaccuracies in the information they presented in court to successfully obtain a temporary restraining order and asset freeze against the company.
Later proceedings found SEC counsel had made false and misleading statements to justify the request, including wro
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