Judgement Against Janus Spectrum Confirmed

A federal judge confirmed the settlement against Janus Spectrum LLC and its affiliated companies and principals for $14,700,000 in disgorgements and civil penalties secured by the Securities and Exchange Commission in October of 2017. Through a licensing scheme, Janus Spectrum and others defrauded speculators by persuading them that they could make “Money from Thin Air” by investing in licenses in the 800 MHz band. In his findings, the judge wrote that “Many of the investors in the spectrum offerings … were unsophisticated, did not have a technical background or understanding of spectrum, and did not have any substantial role in preparing the applications or involvement in the entities in which they bought membership interests. Investors were entirely dependent on the information and efforts of Janus Spectrum.”

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