AirBit Club civil proceedings initiated by the SEC have been stayed, pending outcome of the DOJ’s criminal case.

The stay order was issued on October 5th, following a letter motion filed by defendants Cecila Millan and Margarita Cabrera.

In their motion, Millan and Cabrera argued a stay was justified because ‘both this matter and the Criminal Matter address the same activities’.

The duo also pointed out they’d since ceased promoting AirBit Club.

Neither Ms. Millan nor Ms. Cabrera is still soliciting and raising funds from AirBit investors. Ms. Millan ceased such activities on approximately August 18, 2020, after her arrest in connection with the Criminal Matter.

Ms. Cabrera ceased such activities on approximately August 18, 2020, when federal agents executed a Search and Seizure Warrant at her primary residence.

Cabrera isn’t a criminal defendant. Millan argued that should the SEC’s case continue, she’d be put ‘in a position to potentially self-incriminate.’

The court agreed and granted the requested stay on October 5th.

Other than  two sealed document filings on September 29th and October 2nd, there haven’t been any significant developments in the DOJ’s criminal case.

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