09-20-2023, 05:16 AM
The Securities and Exchange Commission (SEC) has alleged that Binance failed to furnish adequate documents, despite having agreed to expedited discovery.
BAM, the entity operating Binance’s US affiliate, submitted about 220 documents, many of which comprised incomprehensible screenshots and documents lacking dates or signatures, the SEC’s attorneys said.
The entity also declined to provide crucial witnesses for deposition, opting instead for only four depositions of witnesses it independently selected, according to documents unsealed on Thursday.
“[BAM] has responded to requests for relevant communications with blanket objections and has refused to produce documents kept in the ordinary course of its business, claiming those documents do not exist, only for the SEC to later receive such documents from other sources,” the SEC said in the filing.
Binance.US didn’t return Blockworks’ request for comment by press time.
BAM, the entity operating Binance’s US affiliate, submitted about 220 documents, many of which comprised incomprehensible screenshots and documents lacking dates or signatures, the SEC’s attorneys said.
The entity also declined to provide crucial witnesses for deposition, opting instead for only four depositions of witnesses it independently selected, according to documents unsealed on Thursday.
“[BAM] has responded to requests for relevant communications with blanket objections and has refused to produce documents kept in the ordinary course of its business, claiming those documents do not exist, only for the SEC to later receive such documents from other sources,” the SEC said in the filing.
Binance.US didn’t return Blockworks’ request for comment by press time.
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