SEC v. Marat Likhtenstein

Marat Likhtenstein allegedly perpetrated an offering fraud scheme primarily targeting the Russian-American Jewish community. According to the SEC’s complaint, from at least April 2017 through June 2024, Likhtenstein, while acting as an investment adviser, solicited, recommended, and sold self-issued investments in the form of promissory notes that raised more than '4100000' from at least 15 advisory clients. Likhtenstein allegedly falsely told his clients that they would earn extraordinary interest rates through investments in highly lucrative business opportunities and deals. However, Likhtenstein allegedly did not actually invest the investors' funds. Instead, he allegedly misappropriated their funds by making '940000' in Ponzi-like payments to other investors and by spending almost '3200000' on his personal expenses.

Summary generated from official Securities and Exchange Commission press release