SEC Charges Texas Man in Crypto Scheme That Raised About $12.3 Million, With at Least $6.2 Million Misappropriated
On May 29, 2026, the U.S. Securities and Exchange Commission (SEC) announced that it had filed a complaint in the Southern District of Texas against Nathan Fuller of Cypress, Texas, alleging that from October 2022 through mid-2024 he raised about $12.3 million from about 150 investors through Privvy Investments LLC and Gateway Digital Investments in a fraudulent crypto investment scheme. The complaint was filed on May 28.
The SEC alleges that Fuller falsely claimed to have a proprietary high-frequency arbitrage trading bot, touted returns of 40% to 50% in 30 to 45 days and guaranteed profits of more than 100% in 21 days, and falsely claimed the investments were protected by surety bonds, federal deposit insurance and professional liability insurance. The SEC says the bot did not operate as claimed, that Fuller misappropriated at least $6.2 million for personal use, paid out about $5.5 million in Ponzi-like payments, and lulled investors with fake account statements.
The SEC charges Fuller with violating Sections 5(a), 5(c) and 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5, and seeks a permanent injunction, disgorgement with interest and civil penalties. The case is at the allegation stage.
Source: U.S. Securities and Exchange Commission
Published by GSM · USA (original Chinese edition)
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