Apis Capital Management LLC and My Loan Doctor Charged by SEC | Recover Investment Losses

Apis Capital Management LLC and My Loan Doctor Charged by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC:  

The Securities and Exchange Commission today charged Edgar M. Radjabli of Boca Raton, Florida, and two entities he controlled for engaging in three separate securities frauds of escalating size.

The SEC’s complaint alleges that Radjabli, formerly a practicing dentist, and Apis Capital Management LLC, an unregistered investment adviser firm Radjabli owned and controlled, conducted a fraudulent offering of Apis Tokens, a digital asset representing tokenized interests in Apis Capital’s main investment fund.  Radjabli and Apis Capital issued a June 2018 press release falsely claiming that the Apis Token offering had raised $1.7 million when, in fact, the offering had raised no money.

The complaint further alleges that Radjabli and Apis Capital manipulated the securities market for Veritone Inc., a publicly-traded artificial intelligence company, by announcing in December 2018 an unsolicited cash tender offer to purchase Veritone for $200 million, when, in truth, Radjabli and Apis Capital lacked the financing or any reasonable prospect of obtaining the financing necessary to complete the deal.  Radjabli allegedly generated $162,800 in illicit profits on the resulting increase in Veritone’s stock price by trading Veritone securities on behalf of Apis Capital and an affiliated fund.

Finally, the complaint alleges that Radjabli raised nearly $20 million from more than 450 investors in an unregistered, fraudulent securities offering launched in August 2019 through My Loan Doctor LLC.  Radjabli falsely represented that investor funds raised by Loan Doctor would be used to originate loans to healthcare professionals which then would be securitized and sold to large institutional investors.  Instead, Radjabli allegedly invested the bulk of the investor funds in unsecured and uninsured loans to digital asset lending firms and loaned almost $1.8 million of investor proceeds to Apis Capital.

“As the SEC alleges, Mr. Radjabli engaged in serial securities fraud that has no place in our markets,” said Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit. “Today’s resolution includes important relief to protect investors from further harm.”

Investors in Apis Capital Management LLC and/or My Loan Doctor May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested in Apis Capital Management LLC and/or My Loan Doctor, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

If you incurred investment losses with Apis Capital Management LLC and/or My Loan Doctor and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.

 

 

 

 

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