The Securities and Exchange Commission (SEC) has announced charges against Yanni Tassev for fraudulently offering securities purportedly issued by his then employer.
According to the SEC’s complaint, between approximately April 2022 and January 2023, and while Tassev was employed by Boxabl Inc. in an investor relations role, he indirectly obtained approximately $1,595,000 from seven investor households through the ostensible offer and sale of Boxabl securities.
The complaint alleges that Tassev did not own and could not otherwise convey or deliver those securities to the investor purchasers.
The complaint alleges that, although Tassev was recently a resident of the Las Vegas, Nevada area, he is presently believed to be residing in Bulgaria.
The SEC’s complaint, which was filed in the U.S. District Court for the District of Nevada, charges Tassev with violations of the antifraud provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Exchange Act Rule 10b-5. The SEC’s complaint seeks permanent injunctive relief, disgorgement plus prejudgment interest, and civil penalties.
