Bartlesville crypto CEO agrees to $1.24 million SEC settlement
Staff Report | The Wiley Post
July 30, 2026
Bartlesville businessman Anthem Hayek Blanchard and Anthem Holdings Company have agreed to pay a combined $1.24 million in civil penalties to settle a federal securities lawsuit accusing them of misleading investors while raising more than $5 million.
The deal is not final. The Securities and Exchange Commission on July 29 asked a federal judge in Kansas to enter separate judgments requiring Blanchard to pay $236,451 and Anthem Holdings to pay $1 million.
The proposed judgments would resolve all remaining claims against Blanchard and the company. A judge must approve and enter the orders before the settlement takes effect.
The agreement would end litigation that had moved into discovery disputes, planned depositions and the possibility of a default judgment against Anthem Holdings.
Blanchard did not respond to a request for comment before publication
Settlement follows attorney withdrawal, discovery fight
The case's posture shifted after lawyers from the Center for Individual Rights withdrew from representing Blanchard and Anthem Holdings.
Blanchard's lawyers cited professional-conduct rules that permit lawyers to leave a case under certain circumstances, including when a client fails to meet obligations or continued representation becomes unreasonably difficult or burdensome.
Blanchard then began representing himself. Anthem Holdings, however, could not proceed without a lawyer because corporations generally may not represent themselves in federal court.
After the company failed to obtain replacement counsel, the SEC said it planned to seek a default judgment against it.
Discovery continued in the meantime. The SEC served Blanchard with a third set of written requests and identified people it intended to depose as pretrial deadlines approached.
Blanchard also asked the court to block an SEC subpoena to Coinbase seeking records tied to his cryptocurrency accounts. The judge denied his request and allowed the subpoena to proceed.
Proposed judgments include 10-year securities ban
Under the proposed judgments, Blanchard and Anthem Holdings would be permanently enjoined from violating the antifraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934.
The orders also would bar both defendants for 10 years from participating, directly or indirectly, in the issuance, purchase, offer or sale of securities, including through entities they own or control.
Blanchard could continue buying and selling securities for his personal account.
One remedy sought in the SEC's original complaint is absent from the proposed judgment: a bar on Blanchard serving as an officer or director of a public company.
The civil penalties would be due within 30 days after the court enters the judgments. Unpaid balances would accrue interest, and the SEC could use federal collection procedures or seek contempt sanctions to enforce payment.
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The proposed judgments would not require Blanchard or Anthem Holdings to disgorge allegedly ill-gotten gains.
The SEC could ask the court to place the penalties in a Fair Fund for distribution to affected investors. The documents do not guarantee such a distribution. Without a court-approved distribution plan, the money would go to the U.S. Treasury.
SEC alleged false statements helped raise more than $5 million
The SEC sued Blanchard and Anthem Holdings in September 2024, accusing them of making false or misleading statements about the company's financial projections, business-development pipeline and purported investment commitments.
The agency alleged that the conduct occurred from September 2020 through July 2022.
According to the complaint, Anthem Holdings raised $5 million from about 200 investors through a "Series A" stock offering.
Five investors also put a combined $310,000 into a "Pre-Series B" convertible-note offering. The SEC alleged that at least two of those investors received false or misleading statements and invested a combined $235,000.
The SEC contended that the statements gave prospective investors a distorted picture of the company's finances and business prospects.
The lawsuit alleges violations of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5.
Defendants do not admit or deny allegations
Blanchard and Anthem Holdings consented to the settlement without admitting or denying the SEC's allegations. However, they agreed to a stipulation concerning the fines.
The settlement provides that the judgment debts would not be dischargeable in bankruptcy by stipulating that, for bankruptcy purposes, the SEC's allegations are true, and the debts arose from violations of federal securities laws.
The agreements also say the defendants may not seek insurance reimbursement for the penalties or claim the payments as tax deductions or credits.
Both defendants waived a jury trial and an appeal. They also agreed that the court could enter the judgments without making findings of fact or conclusions of law.
Once the orders are entered, the court would retain jurisdiction to enforce their terms. Until then, the case remains pending.