Action against Defendants, an investment advisor and its principal, for alleged fraud and breach of fiduciary duty.  According to the SEC, Defendants advised clients to invest in companies that participated in Defendants’ startup-incubator program.  The SEC alleges that, contrary to Defendants’ representations, a significant portion of the fees paid by the participants was used for the incubator’s overhead and for the personal expenses of Defendant principal.

SEC Complaint

SEC Litigation Release