The United States Securities and Exchange Commission (SEC) obtained a $1.1 million judgment against Keith Crews for defrauding cryptocurrency investors in sales of Stemy Coin. U.S. District Court Judge Tiffany Johnson entered the June 3, 2025, judgment.
Northern District Court of Georgia following Crews’s denial to answer the SEC complaint in August 2023. The court directed Crews to disgorge $530,000, about $51,000 in prejudgment interest, and a $530,000 civil penalty. Crews is permanently enjoined from violating further federal securities laws.
Details of the Stemy Coin Fraud Scheme
Between October 2019 and May 2021, Crews took at least $800,000 from roughly 200 investors in his companies, Four Square Biz LLC and Stem Biotech LLC.
He marketed Stemy Coin as a cryptocurrency that was supported by stem cell technology and hard assets such as gold. Crews assured that Stem Biotech had operational labs, real medical products, and established relationships with medical professionals. But the SEC made the representations worthless: there were no technologies, products, or affiliations.
Taking Advantage of Community Trust
Crews mobilized from the African-American and church communities based on friendships, borrowing on trust to invest. He used a battalion of so-called “ambassadors” to distribute sales literature and sold goods by e-mail, telemarketing, and corporate web sites.
Unauthorized Use of Professional Affiliations
In order to add authenticity to his scam, Crews had also made unauthorized statements of affiliation with doctors and businesses. Crews had also made unauthorized statements on behalf of Dr. Shah and company Alexandros, against whom formal cease and desist letters were sent not to make such statements. Likewise, BHI had also sent a cease and desist letter to Crews in January 2021 for unauthorized use of its name and logo while promoting Stemy Coin.
Legal Violations and Enforcement Action
The SEC alleged that Crews had broken a number of federal securities laws, including the antifraud provisions of the Securities Act of 1933 and the antifraud provisions and registration provisions of the Securities Exchange Act of 1934. The affirmative ruling supports the SEC enforcement actions as well as investor protection against fraud in the virtual currency arena.
