https://www.coindesk.com/policy/2024/04/18/mango-markets-exp...

Avi Einsenberg did the same with Mango Markets,

got away with 110M and is now looking at 20 year sentence

And Mango was being sued by the SEC too https://www.sec.gov/newsroom/press-releases/2024-154

> SEC Charges Entities Operating Crypto Asset Trading Platform Mango Markets for Unregistered Offers and Sales of the Platform’s “MNGO” Governance Tokens

> Pair of affiliated entities separately charged for acting as unregistered brokers