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SEC Charges Individual, His Company in Alleged Multi-Million Dollar Crypto Asset Mining Investment Scheme
WASHINGTON, July 21 -- The Securities and Exchange Commission issued the following litigation release (No. 26-cv-13301; D. Mass. filed July 20, 2026):
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Securities and Exchange Commission v. Zan Shaikh and Bright Vision Distribution LLC, d/b/a Mining Automatic, No. 26-cv-13301 (D. Mass. filed July 20, 2026)
On July 20, 2026, the Securities and Exchange Commission filed partially settled charges against Zan Shaikh, a Florida resident, and his company Mining Automatic alleging that they misappropriated and misused investor funds after raising approximately $22 million from more than 380 investors
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WASHINGTON, July 21 -- The Securities and Exchange Commission issued the following litigation release (No. 26-cv-13301; D. Mass. filed July 20, 2026):
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Securities and Exchange Commission v. Zan Shaikh and Bright Vision Distribution LLC, d/b/a Mining Automatic, No. 26-cv-13301 (D. Mass. filed July 20, 2026)
On July 20, 2026, the Securities and Exchange Commission filed partially settled charges against Zan Shaikh, a Florida resident, and his company Mining Automatic alleging that they misappropriated and misused investor funds after raising approximately $22 million from more than 380 investorsin connection with a fraudulent scheme involving purported crypto asset mining.
According to the SEC's complaint, between approximately June 2023 and May 2025, Shaikh and Mining Automatic promised investors guaranteed monthly returns from investing in a purported crypto asset mining operation that was insufficient to generate the promised returns. As alleged, crypto asset "miners" are participants in a crypto network who provide computational resources to validate transactions on the network ("mining"), for which the miners may be rewarded with crypto assets. Shaikh and Mining Automatic allegedly made misrepresentations, including about their experience, expertise, and track record in crypto asset mining; the uses of investors' money; the status of the crypto asset mining operations; and the purported reasons why they could not make monthly payments to investors when they were due. The complaint alleges that, despite their representations that they would use investors' funds to engage in crypto asset mining, Shaikh and Mining Automatic used only about 13% of investors' funds on expenses relating to purported crypto asset mining. According to the complaint, Shaikh and Mining Automatic took in at least $20 million more in investments than they have repaid to investors and used investors' funds largely for marketing to solicit new investors and to pay for Shaikh's personal and unrelated business expenses.
The complaint, filed in the United States District Court for the District of Massachusetts, charges Shaikh and Mining Automatic with violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Shaikh and Mining Automatic consented to the entry of judgments, subject to court approval, that would permanently enjoin them from violating Sections 5(a), 5(c), and 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and impose an officer and director bar and a conduct based injunction against Shaikh. Additionally, the judgments provide that the defendants shall pay disgorgement, prejudgment interest, and civil penalties in amounts to be determined by the Court upon motion by the Commission.
The SEC's investigation was conducted by Joy Guo, Sejal Bhakta, and Amy Gwiazda of the Enforcement Division's Cyber and Emerging Technologies Unit, and Mark Albers and Kathleen Shields of the SEC's Boston Regional Office. The investigation was supervised by Laura D'Allaird of the Cyber and Emerging Technologies Unit. The litigation will be led by Kathleen Shields.
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Resources
* SEC Complaint (https://www.sec.gov/files/litigation/complaints/2026/comp26590.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26590
FCC Wireline Competition Bureau Issues Public Notice: Commission Updates List of Census Blocks Where Price Cap Carriers Still Have Federal High-Cost Voice Obligations
WASHINGTON, July 21 -- The Federal Communications Commission's Wireline Competition Bureau issued the following public notice (WC Docket No. 10-90):
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By this Public Notice, the Wireline Competition Bureau (Bureau) announces that we have updated the list of census blocks where price cap carriers continue to have a federal high-cost eligible telecommunications carrier (ETC) obligation to provide voice service pursuant to section 214(e)(1) of the Communications Act of 1934, as amended, to reflect fixed terrestrial service availability data as of December 31, 2025./1 The updated list is available
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WASHINGTON, July 21 -- The Federal Communications Commission's Wireline Competition Bureau issued the following public notice (WC Docket No. 10-90):
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By this Public Notice, the Wireline Competition Bureau (Bureau) announces that we have updated the list of census blocks where price cap carriers continue to have a federal high-cost eligible telecommunications carrier (ETC) obligation to provide voice service pursuant to section 214(e)(1) of the Communications Act of 1934, as amended, to reflect fixed terrestrial service availability data as of December 31, 2025./1 The updated list is availableat: https://www.fcc.gov/encyclopedia/price-capresources.
In the December 2014 Connect America Order, the Commission found that limited forbearance from section 214(e)(1)(A) obligations was warranted in discrete geographic areas./2 In particular, the Commission granted limited forbearance "from enforcing a federal high-cost requirement that price cap carriers offer voice telephony service throughout their service areas pursuant to section 214(e)(1)(A) in three types of geographic areas: (1) census blocks that are determined to be low-cost, (2) all census blocks served by an unsubsidized competitor, as defined in the Commission's rules,/3 offering voice and broadband at speeds of 10/1 Mbps to all eligible locations, and (3) census blocks where a subsidized competitor - i.e., another ETC - is receiving federal high-cost support to deploy modern networks capable of providing voice and broadband to fixed locations."/4
In 2014, the Bureau released a list of census blocks where price cap carriers continue to have the federal high-cost ETC obligation to provide voice service./5 This list included census blocks that the Connect America Cost Model (CAM v.4.3) has deemed high-cost or extremely high-cost and that were not served by an unsubsidized competitor./6 The Bureau has periodically updated the list to remove census blocks where carriers have been authorized to receive high-cost support. The last update was made in January 2023 after the final Rural Digital Opportunity Fund authorization./7
Now that we have access to more granular broadband service availability data through the Broadband Data Collection (BDC), we have further updated the list to remove all census blocks served by an unsubsidized competitor, as defined in the Commission's rules, offering fixed terrestrial voice and broadband at speeds of 10/1 Mbps to all eligible locations based on BDC service availability data as of December 31, 2025./8 We also removed census blocks that were authorized support through the Puerto Rico Together Fund and the Connect USVI Fund./9
Price cap carriers no longer have the federal high-cost obligation to provide voice service in the census blocks that are not included on this list unless they have been authorized to receive support for the excluded census blocks through a high-cost support program./10
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Footnotes:
1/ 47 U.S.C. Sec. 214(e)(1)(A); Broadband Data Task Force Announces Opening of Eighth Broadband Data Collection Filing Window and Fabric Challenge Deadline, WC Docket Nos. 11-10, 19-195, Public Notice, 40 FCC Rcd 10192 (BDTF 2025). See also FCC, National Broadband Map, https://broadbandmap.fcc.gov/home (last visited July, 20, 2026) (National Broadband Map). The Broadband DATA Act requires the Commission to collect broadband Internet access service data from each "provider of fixed or mobile broadband Internet access service." Broadband Deployment Accuracy and Technological Availability Act, Pub. L. No. 116-130, 134 Stat. 228 (2020) (codified at 47 U.S.C. Sec.Sec. 641-646), Sec. 641(11).
2/ Connect America Fund et al., WC Docket No. 10-90 et al., Report and Order, 29 FCC Rcd 15644, 15663-71, paras. 50-70 (2014) (December 2014 Connect America Order).
3/ See 47 CFR Sec. 54.5 (defining an unsubsidized competitor as "a facilities-based provider of residential fixed voice and broadband service that does not receive high-cost support"). In determining areas that were eligible for Connect America Phase II support, the Commission excluded areas served by unsubsidized competitors offering terrestrial service. See, e.g., December 2014 Connect America Order, 29 FCC Rcd at 15671-72, paras. 73, 74 & n.169.
4/ December 2014 Connect America Order, 29 FCC Rcd at 15663-64, para. 51 (footnotes omitted); see also 47 CFR Sec. 54.201(d)(3).
5/ Wireline Competition Bureau Releases List of Census Blocks Where Price Cap Carriers Still Have Federal HighCost Voice Obligations & Seeks to Refresh the Record on Pending Issues Regarding Eligible Telecommunications Carrier Designations and Obligations, WC Docket No. 10-90 et al., Public Notice, 30 FCC Rcd 7417 (WCB 2015).
6/ Id.
7/ Rural Digital Opportunity Fund Support Authorized for 1,764 Winning Bids; Etheric Communications LLC's Petition for Waiver of the June 7, 2021 Eligible Telecommunications Carrier Documentation Deadline Denied, AU Docket No. 20-34 et al., Public Notice, 38 FCC Rcd 101 (WCB/OEA 2023).
8/ See National Broadband Map.
9/ See Wireline Competition Bureau Authorizes Stage 2 Support for Puerto Rico Telephone Company and Liberty Communications of Puerto Rico, WC Docket No. 18-143 et al., Public Notice, 36 FCC Rcd 9914 (WCB 2021); Connect USVI Fund Stage 2 Support Authorized for Broadband VI, WC Docket No. 18-143 et al., Public Notice, 36 FCC Rcd 9405 (WCB 2021). We also removed certain Massachusetts and Missouri census blocks that had been inadvertently added to the list after the Bureau corrected bid defaults for Time Warner Cable Information Services (Massachusetts) and Charter Fiberlink-Missouri. Rural Digital Opportunity Fund Support for 2,061 Winning Bids Ready to Be Authorized; Bid Defaults Announced, AU Docket No. 20-34 et al., Public Notice, 37 FCC Rcd 5748, 5753-54 n.44 (WCB/OEA 2022).
10/ Price cap carriers remain obligated to maintain existing voice services to a given community or part of a community unless and until they receive authority under section 214(a) to discontinue that service. 47 U.S.C. Sec. 214(a).
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Original text here: https://docs.fcc.gov/public/attachments/DA-26-751A1.pdf
SEC Obtains Final Judgment as to Cannabis Company, Its Subsidiaries, CEO, COO Charged in Fraudulent Offering
WASHINGTON, July 18 -- The Securities and Exchange Commission issued the following litigation release (No. 2:23-cv-05379; C.D. Cal. filed Mar. 16, 2023):
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Securities and Exchange Commission v. American Patriot Brands, Inc., et al., No. 2:23-cv-05379 (C.D. Cal.) (filed Mar. 16, 2023)
On July 10, 2026, the U.S. District Court for the Central District of California entered a final judgment as to American Patriot Brands, Inc. (APB), a cannabis company, APB's CEO Robert Y. Lee, APB's COO Brian L. Pallas, and APB's subsidiaries Urban Pharms, LLC (Urban Pharms), TSL Distribution, LLC (TSL), and
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WASHINGTON, July 18 -- The Securities and Exchange Commission issued the following litigation release (No. 2:23-cv-05379; C.D. Cal. filed Mar. 16, 2023):
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Securities and Exchange Commission v. American Patriot Brands, Inc., et al., No. 2:23-cv-05379 (C.D. Cal.) (filed Mar. 16, 2023)
On July 10, 2026, the U.S. District Court for the Central District of California entered a final judgment as to American Patriot Brands, Inc. (APB), a cannabis company, APB's CEO Robert Y. Lee, APB's COO Brian L. Pallas, and APB's subsidiaries Urban Pharms, LLC (Urban Pharms), TSL Distribution, LLC (TSL), andDJ & S Property #1, LLC (DJ&S) in connection with previously-filed fraud charges.
The final judgment permanently enjoins APB, Urban Pharms, TSL, DJ&S, Lee, and Pallas from further violations of the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder; permanently enjoins Lee and Pallas from participating in the issuance, purchase, offer, or sale of securities, except for purchases or sales for their personal accounts; prohibits Lee and Pallas from acting as an officer or director of a public company; orders APB, Urban Pharms, TSL, and DJ&S jointly and severally to pay disgorgement of $17,786,703, together with prejudgment interest thereon in the amount of $6,202,777; orders APB and Urban Pharms each to pay a civil penalty of $4,729,004; orders TSL to pay a civil penalty of $2,364,502; orders DJ&S to pay a civil penalty of $1,182,251; orders Lee to pay a total of $6,399,792, consisting of disgorgement of $2,687,061, prejudgment interest thereon in the amount of $1,025,670, and a civil penalty of $2,687,061; and orders Pallas to pay a civil penalty of $472,902. The final judgment separately rules in favor of Relief Defendant Castro Business Enterprises, LLC (CBE) with respect to the Commission's claim of unjust enrichment alleged as to CBE. The final judgment follows the Court's June 16, 2025 order granting the SEC's motion for partial summary judgment and its July 10, 2026 amended order granting in part and denying in part the SEC's motion for remedies and entry of final judgment.
Previously, on March 13, 2026, the Court entered a final judgment by consent as to J. Bernard Rice, APB's alleged former CFO. The Court also previously dismissed the SEC's unjust enrichment claims as to Relief Defendants Puerto Rico One Corporation and Legion Accounting Services, Inc. pursuant to a stipulation filed by the parties.
The entry of the final judgment concludes the litigation.
The SEC's litigation was led by Eugene Hansen and Samantha Williams, substantially assisted by Senior Accountant Jamie Wohlert, and supervised by James Carlson.
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Resources
* Final Judgment (https://www.sec.gov/files/litigation/litreleases/2026/judg26587.pdf)
* Amended Order Granting in Part and Denying in Part Remedies and Entry of FInal Judgment (https://www.sec.gov/system/files/filefield_paths/order26587.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26587
SEC Obtains Final Consent Judgment as to Individual in Alleged Microcap Fraud Scheme
WASHINGTON, July 18 -- The Securities and Exchange Commission issued the following litigation release (No. 20-cv-11092; D. Mass. filed June 9, 2020) involving an individual in an alleged microcap fraud scheme:
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On July 17, 2026, the United States District Court for the District of Massachusetts entered a final consent judgment as to Shane Schmidt in a previously-filed action against 11 defendants alleging a fraudulent microcap scheme.
The Commission's complaint, filed on June 9, 2020, alleged that Schmidt engaged with others in a fraudulent scheme to dump the securities of a microcap company,
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WASHINGTON, July 18 -- The Securities and Exchange Commission issued the following litigation release (No. 20-cv-11092; D. Mass. filed June 9, 2020) involving an individual in an alleged microcap fraud scheme:
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On July 17, 2026, the United States District Court for the District of Massachusetts entered a final consent judgment as to Shane Schmidt in a previously-filed action against 11 defendants alleging a fraudulent microcap scheme.
The Commission's complaint, filed on June 9, 2020, alleged that Schmidt engaged with others in a fraudulent scheme to dump the securities of a microcap company,Sandy Steele Unlimited, Inc. According to the complaint, Schmidt used an alias to secretly operate Sandy Steele and created a false and misleading company website. Schmidt allegedly facilitated the distribution of Sandy Steele shares to his associates who then allegedly sold the shares during a false and misleading promotional campaign.
Schmidt consented to the entry of a final judgment enjoining him from violating the antifraud provisions of Section 17(a)(1) and 17(a)(3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, ordering him to pay $15,802 in disgorgement, which is deemed satisfied by the forfeiture judgment imposed against Schmidt in a parallel criminal case, United States v. Schmidt, No. 25-cr-10046 (D. Mass), and imposing a penny stock bar against him. The Court previously entered judgments by consent against defendants Douglas Roe, Kelly Warawa, Nelson Gomes, Michael Luckhoo-Bouche, and Atlantean Management Corporation and judgments by default against FFS Capital Limited, Paifang Trading Limited, Artefactor Limited, Meadow Asia Limited, and Thyme International Limited.
The SEC's litigation, which is now complete, was handled by Kathleen Shields in the SEC's Boston Regional Office.
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Resources
* Revised Final Judgment (https://www.sec.gov/files/litigation/litreleases/2026/judg26588.pdf)
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Original text here: https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26588
NRC Accepts Ginna Subsequent License Renewal Application for Review
WASHINGTON, July 18 -- The Nuclear Regulatory Commission issued the following news release:
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NRC Accepts Ginna Subsequent License Renewal Application for Review
ROCKVILLE, Md. -- The Nuclear Regulatory Commission has accepted for review Constellation's application to extend the operating license of the R.E. Ginna nuclear power plant in Ontario, New York, by 20 years, from 60 to 80 years total.
What: NRC staff determined the application has sufficient technical and environmental information to begin a full safety and environmental review, including audits, ahead of a licensing decision.
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WASHINGTON, July 18 -- The Nuclear Regulatory Commission issued the following news release:
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NRC Accepts Ginna Subsequent License Renewal Application for Review
ROCKVILLE, Md. -- The Nuclear Regulatory Commission has accepted for review Constellation's application to extend the operating license of the R.E. Ginna nuclear power plant in Ontario, New York, by 20 years, from 60 to 80 years total.
What: NRC staff determined the application has sufficient technical and environmental information to begin a full safety and environmental review, including audits, ahead of a licensing decision.
When: If approved, Ginna could operate through Sept. 18, 2049. The plant was first licensed in 1969 for 40 years and renewed in 2004 for 20 more, extending its license to 2029.
How: The NRC will publish a hearing notice within days, opening a 60-day window for the public to request a legal hearing on the application.
Background: Constellation filed the application June 17. Copies of the application are available at Lyons Public Library, 122 Broad St., Lyons, New York, and online.
More on the renewal process: www.nrc.gov/reactors/operating/licensing/renewal.html
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Original text here: https://www.nrc.gov/sites/default/files/cdn/doc-collection-news/2026/26-021-a.pdf
FCC Settles Supply Chain Certification Probe With Central Louisiana Cellular
WASHINGTON, July 18 -- The Federal Communications Commission Enforcement Bureau has entered into a settlement agreement with Central Louisiana Cellular LLC, resolving an investigation into whether the company provided inaccurate information regarding national security network upgrades. The action is detailed in an order under regulatory designation (In the Matter of Central Louisiana Cellular, LLC, File No.: EB-FD-26-00040704).
The investigation centered on the Secure and Trusted Communications Networks Reimbursement Program, an initiative established under federal law to remove, replace, and
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WASHINGTON, July 18 -- The Federal Communications Commission Enforcement Bureau has entered into a settlement agreement with Central Louisiana Cellular LLC, resolving an investigation into whether the company provided inaccurate information regarding national security network upgrades. The action is detailed in an order under regulatory designation (In the Matter of Central Louisiana Cellular, LLC, File No.: EB-FD-26-00040704).
The investigation centered on the Secure and Trusted Communications Networks Reimbursement Program, an initiative established under federal law to remove, replace, anddispose of communications equipment deemed to pose national security risks. Providers participating in the program are required to permanently eliminate covered infrastructure manufactured by foreign entities such as Huawei Technologies Company or ZTE Corporation. Program rules require a final certification via a regulatory document known as Form 5640, verifying that all covered equipment has been completely removed and destroyed.
According to regulatory filings, Central Louisiana Cellular participated in the program and filed a final certification stating that it had completed the permanent removal and disposal of all covered equipment. However, the Enforcement Bureau subsequently determined that the company had lost track of specific pieces of covered equipment that were active on its network when funding applications were submitted between January and May 2022. Because this equipment was missing, the company could not verify its physical destruction.
Federal rules strictly prohibit telecommunications entities from submitting incorrect or misleading factual statements during agency proceedings. While Central Louisiana Cellular initially failed to mention the missing components in its certification, the company did not request federal funds for disposing of those items. When confronted by agency investigators, company representatives cooperated fully, provided information, and volunteered to amend the final certification to accurately reflect the status of the unverified equipment.
To resolve the matter without further administrative proceedings, Central Louisiana Cellular entered into a consent decree with the Enforcement Bureau on July 17, 2026. Under the terms of the settlement, the company admits to the factual background of the case and has agreed to pay a $10,000 voluntary contribution to the United States Treasury within 30 days.
The Enforcement Bureau found that adopting the settlement serves the public interest and officially terminated the investigation. In the absence of further evidence, the agency stated it will not pursue additional proceedings or question the baseline qualifications of Central Louisiana Cellular to retain its federal operating authorizations.
The settlement comes as Central Louisiana Cellular winds down operations. The company, which previously functioned as an eligible telecommunications carrier providing commercial broadband services across Louisiana, reports no current operating income and expects to completely terminate its business activities by the end of 2026.
Copies of the final order were transmitted to Jonathan Foxman, the authorized representative for Central Louisiana Cellular in Wayne, Pennsylvania, and to David LaFuria, legal counsel for the firm in Tysons, Virginia.
-- Vidhi Gianani, Targeted News Service
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Original text here: https://docs.fcc.gov/public/attachments/DA-26-675A1.pdf
FCC Enforcement Bureau Settles Investigation Over Texas 10 Supply Chain Certification
WASHINGTON, July 18 -- The Federal Communications Commission Enforcement Bureau has officially settled an investigation into Texas 10 LLC regarding accurate reporting within a federal telecom supply chain cleanup initiative. The federal action, officially titled In the Matter of Texas 10, LLC (DA 26-674), resolves allegations that the company made incorrect statements during the final compliance phase of a national security program.
Under the terms of the settlement, the company admits it could not verify the proper destruction of certain national security risk components, despite certifying that
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WASHINGTON, July 18 -- The Federal Communications Commission Enforcement Bureau has officially settled an investigation into Texas 10 LLC regarding accurate reporting within a federal telecom supply chain cleanup initiative. The federal action, officially titled In the Matter of Texas 10, LLC (DA 26-674), resolves allegations that the company made incorrect statements during the final compliance phase of a national security program.
Under the terms of the settlement, the company admits it could not verify the proper destruction of certain national security risk components, despite certifying thatit had done so. To resolve the liability, the business has agreed to pay a $10,000 voluntary contribution to the United States Treasury and accept strict compliance terms as it prepares to dissolve its operations later this year.
The enforcement action stems from the Secure and Trusted Communications Networks Act of 2019, which lawmakers enacted on March 12, 2020. The law designed a framework to protect the domestic communications infrastructure from foreign espionage risks by requiring the removal of suspect hardware. The law directed the federal regulator to compile a list of covered communications equipment and services deemed to present an unacceptable risk to national security. The resulting list prominently featured technology produced by Huawei Technologies Company and ZTE Corporation.
To assist service providers burdened by the mandate, the government established the Secure and Trusted Communications Networks Reimbursement Program. This program provided federal funds to offset reasonable expenses incurred by companies as they permanently removed, replaced, and discarded prohibited equipment from their active commercial networks.
Participation in the multi-billion-dollar program carried strict administrative obligations. Every participating network operator had to submit a final certification via a specific federal document known as Form 5640 within 10 days of completing their project timeline. This document required participants to explicitly confirm whether they had finished the permanent removal, replacement, and disposal of all covered items present in their infrastructure when they first applied for funding.
Texas 10, LLC operated as an Eligible Telecommunications Carrier providing commercial broadband services across the state of Texas. The provider entered the reimbursement program to purge its infrastructure of the banned components. Between January and May of 2022, the company filed its initial funding applications and subsequent amendments to participate in the security initiative. Records show the company chose to remove the restricted equipment from its operating grid but opted not to replace the components with substitute gear.
The regulatory issue arose when the company submitted its final project completion papers. The company checked a box indicating that all prohibited hardware had been permanently removed, replaced, and destroyed. However, an internal accounting gap existed. Certain pieces of covered hardware, which were present in the network when the initial funding request occurred, were misplaced. The company could not locate this gear prior to the decommissioning phase and therefore could not verify that it had been properly destroyed according to federal rules.
Although the provider did not initially highlight the missing hardware in its initial completion filing, the business did not seek federal reimbursement cash for the disposal or removal of those specific lost items. When federal investigators discovered the discrepancy and requested specific information regarding the missing assets, company representatives were cooperative. The entity offered to revise its final certification documents to accurately reflect that the final whereabouts and destruction of the lost items could not be validated.
Enforcement Bureau Chief Patrick Webre signed the adopting order on July 17, 2026, officially terminating the active investigation. The bureau determined that accepting the consent decree and ending the inquiry served the public interest by avoiding the expenditure of additional public resources. The regulator affirmed that, barring the discovery of subsequent material evidence, the agency will not use these specific facts to initiate separate proceedings against the entity or question its basic qualifications to hold operational licenses.
The settlement comes at a time when the Texas provider is preparing to exit the marketplace entirely. According to the case text, the company currently generates no operating income and expects to wind down its remaining business functions by the conclusion of 2026.
The $10,000 penalty must be delivered electronically to the United States Treasury within 30 calendar days of the order. The agreement states that failure to submit the funds on time triggers an immediate default, allowing the government to add interest charges calculated using the United States Prime Rate plus an additional 4.75 percent, along with collections fees and litigation costs. Legal notices regarding the order were dispatched to corporate representative Jonathan Foxman in Wayne, Pennsylvania, and legal counsel David LaFuria in Tysons, Virginia.
-- Vidhi Gianani, Targeted News Service
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Original text here: https://docs.fcc.gov/public/attachments/DA-26-674A1.pdf
