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First Prosecution, Then The SEC Lawsuit

The U.S. Department of Justice has asked a New York federal judge to delay the U.S. Securities and Exchange Commission’s civil suit against Gery SHALON, Ziv ORENSTEIN, and Joshua AARON, saying the criminal case against the men should take priority.

The government said its case against Joshua Aaron, Gery Shalon and Ziv Orenstein overlapped with the SEC’s allegations in court papers filed Thursday. As is typical in such circumstances, it asked for discovery in the civil case to be halted to avoid giving the defendants another way to get information that could help them in the criminal case.

While the indictment alleges additional criminal conduct arising from the defendants’ participation in other illegal schemes, and contains additional allegations and charges related to computer hacking, both the indictment and the SEC complaint overlap almost entirely with respect to the securities-related allegations,” prosecutors said.

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