5-6-2025 – A federal judge in Georgia has delivered a robust $1.1 million judgment against Keith Crews, accused of masterminding a cryptocurrency swindle. The ruling, handed down on June 3, 2025, by Judge Tiffany Johnson, came as a default judgment after Crews failed to engage with the SEC’s legal action, initiated in August 2023. The financial penalty encompasses $530,000 in disgorged profits from Crews’s alleged illicit activities, nearly $51,000 in prejudgment interest, and a further $530,000 as a civil fine. Moreover, Crews faces a lifetime ban from breaching securities regulations, a stringent measure to deter future misconduct.
False claims about atem cell technology and gold-backed tokens
The SEC’s case painted a damning picture of Crews’s operations through his companies, Four Square Biz and Stem Biotech, between October 2019 and May 2021. During this period, Crews is said to have enticed approximately 200 investors, raising at least $800,000 by peddling a so-called crypto asset security dubbed “Stemy Coin.”
Targeting faith-based and minority communities
The regulator alleged that Crews targeted African-American and church communities, weaving a web of deceit with promises that the token was underpinned by cutting-edge stem cell technology and fortified by tangible assets such as gold. He further claimed his enterprises boasted operational laboratories, established products, and a track record of providing stem cell treatments—assertions the SEC branded as entirely fictitious.
Compounding the allegations, the SEC accused Crews of fabricating partnerships with medical professionals and research groups, bolstering his scheme’s credibility. In reality, neither Crews nor his companies possessed any stem cell technology, operational infrastructure, or legitimate affiliations. The SEC’s complaint outlined a litany of violations, including breaches of fraud provisions under the Securities Act and Exchange Act, alongside failures to adhere to registration requirements. This landmark judgment underscores the SEC’s resolve to combat crypto-related malfeasance, even as its enforcement efforts in this sphere have seen a decline under the current U.S. administration led by President Donald Trump.
