Texas regulator accuses Abra Group of securities fraud

Texas regulator accuses Abra Group of securities fraud



The Texas State Securities Board (TSSB) has taken legal action against Abra and its CEO, William John "Bill" Barhydt, alleging securities fraud and deceptive practices. Investors who participated in Abra Earn and Abra Boost have accused the defendants of engaging in these fraudulent activities.



According to the TSSB, the defendants deliberately concealed important financial information, such as party capitalization, loan defaults, and asset transfers to Binance. The companies were reported to be on the verge of bankruptcy or already insolvent by March 31, 2023.



In response to the alleged misconduct, the TSSB Enforcement Division has issued an Emergency Cease and Desist Order and a Notice of Hearing. The respondents are accused of selling Abra Earn to both accredited and unaccredited investors, and Abra Boost exclusively to


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