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Reuters
Reuters
Business

U.S. targets Longfin, CEO over alleged trading scheme: SEC

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission on Friday said it had targeted allegedly illegal stock sales involving Longfin Corp stock as well as the finance and technology company's chief executive and three other people.

The regulator, in a statement, said it had obtained a court order to freeze more than $27 million in trading proceeds from "allegedly illegal distributions and sales of restricted shares of Longfin," which saw its shares halted earlier on Friday.

(Reporting by Susan Heavey and Michelle Price; Editing by Chizu Nomiyama)

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