The Securities and Exchange Commission (SEC) announced charges against Yanni Tassev for fraudulently offering securities allegedly issued by his then employer.
According to the SEC complaint, sometime between April 2022 and January 2023, and while Tassev was working at Boxabl Inc. in an investment role, indirectly acquired approximately $1,595,000 from seven investor households through the apparent offering and sale of Boxabl securities.
The complaint alleges that Tassev did not own and could not otherwise transfer or deliver these securities to the purchasing investors.
The complaint alleges that although Tassev was most recently a resident of the Las Vegas, Nevada area, he is currently believed to reside in Bulgaria.
The SEC’s complaint, filed in the U.S. District Court for the District of Nevada, charges Tassev with violations of the anti-fraud provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of Securities Exchange Act of 1934 and Rule 10b-5 of the Exchange Act. The Securities and Exchange Commission’s complaint seeks permanent injunctive relief, disgorgement plus prejudgment interest and civil penalties.