September 21, 2020 Comments Off on NS8, Inc. Securities Fraud Investigation Blog, Current Investigations

NS8, Inc. Securities Fraud Investigation

NS8, Inc. Securities Fraud Investigation, featured by top securities fraud attorneys, The White Law Group

SEC Charges NS8, Inc. and its CEO With Raising $123 Million in Fraudulent Offerings

According to a press announcement, the Securities and Exchange Commission on September 17 filed an emergency action against the former CEO of NS8 Inc., a Las Vegas-based technology company,  which purportedly provides fraud detection and prevention software to e-commerce merchants. The regulator is seeking an asset freeze and charging the CEO with allegedly “defrauding investors by falsely claiming millions of dollars in revenue.”

From at least 2018 through June 2020, the CEO allegedly altered NS8’s bank statements to show millions of dollars in payments from customers, according to the SEC. He allegedly sent the falsified bank statements and revenue figures on a monthly basis to NS8’s finance department, which used them to prepare NS8’s financial statements. In at least two securities offerings, NS8 and the CEO allegedly “provided investors and prospective investors the false financial statements, showing millions of dollars in revenue and assets and other information incorporating the falsified revenue figures,” according to the complaint.

According to the SEC, as a result of the alleged fraud, NS8 raised approximately $123 million in 2019 and 2020, and that its CEO “ultimately pocketed at least $17.5 million of investor funds.”

The SEC seeks injunctions, disgorgement of allegedly ill-gotten gains with prejudgment interest, and financial penalties.

Filing a Complaint against your Brokerage Firm

If you are concerned about your investment in NS8 Inc., you may be able to file a complaint against your brokerage firm. Please contact the securities attorneys at The White Law Group at 1-888-637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee. The firm represents investors throughout the country in claims against their brokerage firm.

For more information on the firm and its representation of investors, visit  www.WhiteSecuritiesLaw.com.

 

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