Quick TakeThe Meta 1 ICO involved sale of a token allegedly back by 1 billion dollars in assets, including fine art and gold minesThe SEC filed suit, alleging securities fraud and the offering of unregistered securities, and the Court issued a TRO and preliminary injunctionAfter Defendants failed to comply with Court orders, the SEC moved for a finding of civil contempt, and the Court agreed to imprison two of the defendants until they could prove compliance with the Court’s orders
