Action against Defendants, a finance and technology company and its CEO, for an alleged fraudulent public offering.  According to the SEC, Defendants qualified for a public offering by making false representations to the SEC, distributed shares to meet qualification criteria without collecting payment, and committed accounting fraud by recording sham revenue.  A parallel criminal case is proceeding against Defendant CEO, and the SEC has previously charged both Defendants and other individuals with alleged unregistered trading.

SEC Complaint

SEC Litigation Release

SEC Press Release