Aug. 20 at 8:59 PM
$EBET The U.S. Securities and Exchange Commission (SEC) asked a Texas federal judge to reject a summary judgment bid in an ongoing
$56 million microcap stock fraud case involving the promotion of EBET Inc.SEC v. Friedlander and EBET Inc.The Update: In August 2026, the SEC urged the court to let the case proceed to trial, stating that material facts remain heavily disputed.The Allegations: The SEC's complaint accuses defendant Jonathan Friedlander of working closely with late co-defendant Kevan Casey to artificially promote EBET Inc. (an online gambling and i-gaming platform operator).The Scheme: The SEC claims the group acquired massive amounts of microcap shares, took companies public, hyped the stock, and dumped shares for millions of dollars in profit without disclosing their hidden ties to the ownership. The SEC noted that both Casey and Friedlander sold millions of dollars worth of EBET shares immediately following its public trading rollout.
