SEC v. Joseph Geromini

Joseph Geromini allegedly lied to and stole more than $200,000 from investors and used the funds for personal expenses between August 2018 and May 2019. According to the complaint, Geromini disseminated false and misleading offering documents and financial models to investors that failed to account for his ongoing theft of investor proceeds. In addition, Geromini allegedly made materially false and misleading statements to investors about the company's cash burn rate and use of proceeds.

Summary generated from official Securities and Exchange Commission press release