SEC v. Mathews

Anil Mathews allegedly engaged in a financial accounting and disclosure fraud scheme. According to the SEC's complaint, from May 2021 to September 2023, Mathews and Agarwal engaged in a round-trip accounting scheme to overstate Near’s reported revenue by on average 27% for fiscal years 2021 and 2022 and the first two quarters of 2023. Mathews allegedly misappropriated over $300,000 from Near to pay for the rental of a luxury single family residence for him and his family and presented false invoices to conceal his misappropriation. Harlan and MobileFuse allegedly provided substantial assistance to Mathews and Agarwal in perpetrating the scheme.

Summary generated from official Securities and Exchange Commission press release