Launchbyte.IO, LLC – SEC Obtains Restraining Order | Goodman & Nekvasil P.A. May Recover Investor Losses
According to the SEC Allegations:
The Securities and Exchange Commission announced that it has obtained a temporary restraining order and asset freeze against defendants Tanmaya (a/k/a Tan) Kabra and LaunchByte.io, LLC in the SEC’s previously filed emergency action, in which the SEC alleges that the defendants defrauded retail investors by promising to invest their money in start-up companies, while instead using hundreds of thousands of investor funds to make payments to earlier investors and to buy a boat.
Beginning no later than June 2018 and continuing through at least June 2019, Tan Kabra, individually and through his limited liability company LaunchByte.io, LLC (also known as The Kabra Group, LLC), deceived investors into giving money with false promises of double-digit returns in a matter of months with no risk. Tan Kabra’s stories and promises were lies. Upon receipt, Tan Kabra used investor money to, among other things, buy himself a boat, pay credit card balances, and make Ponzi-like payments to earlier investors.
LaunchByte.io, LLC (also known as The Kabra Group, LLC) was a limited liability company organized in Massachusetts in April 2015 until it was dissolved involuntarily in approximately June 28, 2019. Tan Kabra was its manager and resident agent. LaunchByte.io, LLC was named Climax Entertainment Group, LLC until March 2016, when its name changed to LaunchByte.io, LLC. In January 2018, its name changed again to The Kabra Group, LLC. Kabra maintained and had sole signatory authority over LaunchByte.io, LLC’s and The Kabra Group, LLC’s bank accounts.
Investors in Launchbyte.IO, LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Launchbyte.IO, LLC, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 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 in Launchbyte.IO, LLC 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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