SEC v. Saumil Thakkar

Saumil Thakkar and Poorvesh Thakkar allegedly conducted a real estate offering fraud. According to the SEC's complaint, S. Thakkar and P. Thakkar fraudulently raised more than $12 million for a real estate investment-focused private fund. The defendants allegedly made several misrepresentations in the fund’s written offering materials, emails sent to prospective investors, and in verbal investment solicitations. The complaint further alleges the defendants misrepresented how much money the Thakkar family invested in the fund and failed to disclose related-party agreements.

Summary generated from official Securities and Exchange Commission press release