On August 4, 2026, the Securities and Exchange Commission filed a consent and proposed final judgment in the U.S. District Court for the District of New Jersey as to defendant John A. DeSalvo, a former New Jersey Corrections Officer, in connection with a previously filed action alleging that DeSalvo engaged in crypto offering and investment fraud schemes.

The Commission’s complaint, filed on August 23, 2023, alleges that DeSalvo fraudulently raised at least $623,888 from approximately 222 investors in connection with the so-called Blazar Token.

As the complaint alleges, DeSalvo claimed that the Blazar Token would replace traditional state pension systems and falsely told investors that Blazar…