Genius Group pledges to challenge “fraudsters and teachers in the market” amid a legal ban on Bitcoin Treasury

The Genius Group supported by artificial intelligence revealed that it is obliged to sell its bitcoin reserves after restrictions imposed by the US District Court (the southern province in New York), which prevents the company from raising funds, issuing shares, or investing investor money in BTC.

Its CEO now claims that the court orders were based on fraud and pushing the company to an illegal area.

Fraud accusations, legal drama and bitcoin

In its official press release, The company has clarified the escalating legal challenges it faces due to a conflict related to Amnesty International (LZGI), its officers, and the controversial asset purchase agreement (APA).

The arbitration procedures for finishing APA began on October 30, 2024, after lawsuits were submitted to the shareholders and fraud claims against Lzgi executives, Michael Mo and Peter Rits. A preliminary judicial order (PI) was agreed upon by both parties on December 17 of that year, which stopped the activities of the arrows related to the arrows associated with APA.

The situation intensified after the US Securities and Stock Exchange Committee (SEC) submitted fraud fees for shareholders against MEE and Ritz. At their request, a temporary restriction order (TRO) was granted on February 14, 2025. This is the prevention of genius from selling shares, collecting money, or even buying bitcoin.

The company, which is based in Singapore, has claimed to TRO and the subsequent PI granted by the American District Court for the southern region of New York (SDNY) based on wrong data and aims to blackmail the company financially. In her defense, the genius of a meeting recorded on February 27 to the court, where Ritz claimed in detail how he took advantage of the legal process to pressure the company for more money.

This text was also submitted by Lzgi shareholders in a separate lawsuit filed in Florida, where a genius has since been rejected as a defendant.

Since PI is still in effect, Genus stressed that it is legally prohibited from raising capital or benefiting from the ATM of $ 150 million, despite the approval of the Board of Directors and shareholders. This includes the prohibition on compensation for employees by issuing shares – a procedure that argues the company that violates the Singapore Law.

Genius began to reduce the operations as a result of the inadequacy of traditional financing. This has stopped all marketing and care efforts. The company has begun to liquidate part of the Bitcoin Treasury, which reduces its shares from 440 to 430 BTC to maintain operations.

On March 19, the company said it had submitted a proposal in the emergency cases before the American Appeals Court for the Second Circle to evacuate PI, pending the result of its appeal. Although 53 % decreased in its share price – from $ 0.47 to $ 0.22 – during the past six weeks, the company insists that it is still committed to maintaining its general list and addressing what it describes as a coordinated plan for financial manipulation.

She continued, warning that the continuous restrictions imposed by the court pose a serious threat to its operational validity, but expressed its confidence that its legal and strategic actions will help reduce risks.

Its chief executive, Roger James Hamilton, said that the company “will not bend for scammers and teachers in the market” who themselves are the subject of multiple cases of fraud and misconduct. He promised that the genius would take all the necessary measures and added,

“We will also continue to transfer the flag to Bitcoin, even when it was legally banned from building our Bitcoin Treasury. We believe that Bitcoin guarantees transparency and prevents exactly the type of fraud in wires and fraud on shareholders who represent a current lawsuit.”

Genius after the steps of the strategy

As mentioned earlier, a genius first Plans announced To allocate at least 90 % of its current and future reserves to Bitcoin in November last year.

The commercial education and acceleration company that was driven by artificial intelligence had said that thanks to its first strategy in Bitcoin, it was hoping to be among the first companies listed on the New York Stock Exchange that embraces the Bitcoin tactic led by Michael Sailor.