US Judge Orders UK Court to Depose Telegram’s Advisor About Token Sale

U.S. District Court Judge P. Kevin Castel in New York signed an order to Britain’s Excessive Court to depose John Hyman, Telegram’s chief funding advisor.

The movement, requested by the SEC final week and granted Monday, seeks testimony and paperwork from Hyman associated to his work elevating funds for Telegram’s blockchain undertaking TON. The request was filed by SEC official Jorge Tenreiro, in accordance to the signed order.

The request for worldwide judicial help asks the Excessive Court of England and Wales to have Hyman “seem earlier than an examiner or different acceptable judicial authority in England and Wales” for a deposition.

“It has been demonstrated to this Court that justice can’t be achieved amongst the events to the Motion with out the testimony of Mr. Hyman… This Court requests the help of an acceptable English judicial officer to compel the looks of Mr. Hyman to give oral sworn testimony and to produce paperwork on the topic issues and for the date ranges as described on this Request,” the order says.

The movement is part of ongoing litigation by the SEC looking for to halt the discharge of the TON blockchain and the issuance of the undertaking’s tokens, often known as grams. The SEC believes grams are unregistered securities, offered by Telegram to quite a lot of notable American traders and prepared to flood the U.S. capital market.

Telegram refuted that cost, saying it had sought steerage from the SEC on how to keep away from having grams categorised as securities however did not hear from the regulator. Telegram registered its token pre-sale as an exempt providing below the Regulation D in February and March 2018.

The court docket beforehand requested the depositions of Telegram’s management, together with founder and CEO Pavel Durov. Telegram Telegram’s funding relations staffer Shyam Parekh was scheduled to be questioned Tuesday in London.

Vice President Ilya Perekopsky is scheduled to be questioned in London on Dec. 16. CEO Durov is anticipated to be deposed Jan. 7 or 8, 2020, in an undisclosed location. Telegram will meet the SEC in court docket Feb. 18-19.

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