New York, NY – Background: Securities and Exchange Commission (SEC) general attorney Judith Weinstock was removed “for good cause shown” from SEC v. Richard Xia, Et Al, a controversial case in which the defense alleges a pattern of malfeasance and misconduct on the part of the SEC. This development comes amidst a significant reduction in the SEC’s workforce and follows other high-profile cases in which the SEC and other federal agencies were either accused of, or sanctioned for, misconduct, including SEC v. Debt Box and Nerayoff v. The United States, Et Al.
The alleged SEC malfeasance and misconduct in SEC v. Richard Xia, Et Al, includes procedural fraud — including the submission of false witness affidavits and intentionally misleading the court as to the true value of Mr. Xia’s assets — and collusion between SEC attorneys, the court-appointed monitor, and third-party private actors seeking to profit off of the dissolution of Mr. Xia’s assets. Weinstock’s removal, which occurred on May 9 and came as a surprise to the defense, immediately followed the defense’s filing of two motions, a Motion to Modify Judgement and a. Motion to Stay the Enforcement of Judgement Pending Resolution of Post-Judgement Motions in Trial Court and Issues on Appeal, on May 5.
Mr. Xia and his attorneys will continue to fight for justice and to expose the SEC’s serial wrongdoings in this case.
Case: 1:21-cv-05350-PKC-JAM
Document: 589-1
Available for Comment: Richard Xia, Defendant
The alleged SEC malfeasance and misconduct in SEC v. Richard Xia, Et Al, includes procedural fraud — including the submission of false witness affidavits and intentionally misleading the court as to the true value of Mr. Xia’s assets — and collusion between SEC attorneys, the court-appointed monitor, and third-party private actors seeking to profit off of the dissolution of Mr. Xia’s assets. Weinstock’s removal, which occurred on May 9 and came as a surprise to the defense, immediately followed the defense’s filing of two motions, a Motion to Modify Judgement and a. Motion to Stay the Enforcement of Judgement Pending Resolution of Post-Judgement Motions in Trial Court and Issues on Appeal, on May 5.
Mr. Xia and his attorneys will continue to fight for justice and to expose the SEC’s serial wrongdoings in this case.
Case: 1:21-cv-05350-PKC-JAM
Document: 589-1
Available for Comment: Richard Xia, Defendant
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