Assets of ten Genesis companies will remain frozen until the case is resolved. Court order

Assets of ten Genesis companies will remain frozen until the conclusion of hearings in the FTC case.

This is stated in a ruling by the U.S. District Court for the Northern District of California, reports Forbes.

On July 2 the court published a preliminary injunction concerning ten companies: Universe Group, Obrio and AMO. The decision also affects Genesis co‑founders Volodymyr Mnoholetniy, Vasyl Ulyanov and Stamatis Skianis.

They, Forbes writes, did not appear in court. The decision is an extension of the temporary injunction that was issued on June 4.

Earlier, on June 30, five legal entities of Universe Group, Obrio and AMO, and other defendants in the case — Oksana Kucher, Iryna Oleksyn, Olha Harbuzenko, Rostyslav Ivanytsia and Viktoriia Savchuk — voluntarily agreed to similar restrictions.

FTC vs Genesis

On June 2, 2026 the U.S. Federal Trade Commission (FTC) filed a lawsuit against Genesis Tech in the U.S. District Court for the Northern District of California. On June 17, 2026 the FTC published an official press release about it.

The FTC described Genesis as a group of companies that since 2020 has operated “a portfolio of deceptive subscription schemes through a network of companies registered in Cyprus and those operating in Ukraine.”

As of June 8, 2026, PayPal informed the FTC that it had frozen about $8 million in accounts related to the defendants. On June 9, 2026, JP Morgan Chase froze roughly $2 million in defendants’ assets.

According to the federal electronic court records, the following actions are scheduled in the case:

• August 25, 2026. Written submissions. Both parties must submit a written proposal setting out their “road map” (case plan) — the evidence disclosure schedule, number of witnesses, and expected trial duration.
• September 1, 2026. Initial case management conference. A meeting with the judge (usually by phone or video) to finalize the official schedule and deadlines for the next 6–12 months.

Consequences for Genesis

The typical trajectory in such cases is a settlement, AIN was told by a source familiar with the situation in the market. “Adobe, Amazon, Shutterstock and others followed a similar path. And they all continued operating.”

The timing for resolving the dispute, the interlocutor continued, is hard to predict in such cases, but it could take about six months.

However, it is unclear whether that time will be sufficient to complete all procedures. This view is also expressed by lawyer and partner at Axon Partners Oksana Zadniprovska.

“A court decision can come within months or within years, because many factors influence it, including the willingness to negotiate with the FTC,” says Oksana Zadniprovska.

Read more: “Could be months or years, depending on the willingness to negotiate with the FTC.” What awaits Genesis, which is suspected of deceptive subscription schemes