SEC v. Diana Mae Fernandez, No. LR-25918, Northern District of West Virginia (Dec. 28, 2023) — Press Release
raw: Diana Mae Fernandez
Diana Mae Fernandez, No. 5:23-cv-00372 (Dec. 28, 2023)
summary
The SEC charged Diana Mae Fernandez with conducting a $360,000 fraudulent securities offering, and she is currently awaiting extradition from Serbia.
paragraph
The SEC charged Diana Mae Fernandez with conducting a $360,000 fraudulent securities offering between 2018 and 2020. Fernandez allegedly promised returns as high as 63 percent for investments in crypto assets and real estate but used funds for personal expenses and Ponzi-like payments. The complaint alleges violations of antifraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934.
narrative
The SEC has charged self-styled entrepreneur Diana Mae Fernandez with conducting a $360,000 fraudulent securities offering between 2018 and 2020. Fernandez allegedly induced investors by promising returns as high as 63 percent through investments in crypto assets, private companies, and luxury real estate. Instead of investing the funds, she allegedly used the money for personal living expenses, luxury hotel stays, and Ponzi-like payments to earlier investors. The SEC's complaint alleges violations of Section 17(a) of the Securities Act of 1903 and Section 10(b) of the Securities Exchange Act of 1934. Fernandez is currently under arrest in Serbia and is awaiting extradition to the United States. The SEC is seeking permanent injunctive relief, disgorgement, civil penalties, and an officer-and-director bar.
Classified crypto-securities(confidence 95%). EDGAR detection: forms 1-A/S-1/8-K· recall 43% / precision 2%. detection rule →
Parties
Securities and Exchange CommissionDiana Mae Fernandez
Keywords
fernandezsecuritiessecurities exchangeexchange commissionnorthern westwest virginiadianamaeexchangedecember securitiescommission dianafraudulent securitiessecurities offeringcommissionsec
Exhibits & Attached Documents (1)
Extracted insights
Dollar amounts 1
- $360K $360,000 $100K–$1M
Entities 10
- person Brendan P. McGlynn
- person christopher kelly
- person civil monetary penalties
- person Gregory Bockin
- person Michael F. McGraw
- person permanent injunctive relief
- person prejudgment interest
- agency sec investigation
- agency Securities and Exchange Commission
- location United States
Triples 16
- Securities And Exchange Commission charged Diana Mae Fernandez with conducting a $360,000 fraudulent securities offering
- Fernandez under arrest in Serbia
- Fernandez awaiting extradition to United States
- Fernandez induced investors to participate in the fraudulent securities offering
- Fernandez used investor funds for day-to-day living expenses and lavish hotel stays
- Michael F. McGraw conducted SEC investigation
- Scott a. Thompson supervised SEC investigation
- Brendan P. McGlynn supervised SEC investigation
- Christopher Kelly will lead litigation
- Gregory Bockin will lead litigation
- SEC acknowledges assistance and cooperation of United States Attorney’s Office For The Northern District Of West Virginia
- Complaint seeks permanent injunctive relief
- Complaint seeks disgorgement of ill-gotten gains
- Complaint seeks prejudgment interest
- Complaint seeks civil monetary penalties
- Complaint seeks officer-and-director bar against Fernandez
PDF (from attached: complaint)
Text layers
Extracted body text (2,102c)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 25918 / December 28, 2023 Securities and Exchange Commission v. Diana Mae Fernandez, No. 5:23-cv-00372 (N.D. W.V. filed Dec. 21, 2023) SEC Charges Self-Styled Entrepreneur with Offering Fraud On December 21, 2023, the Securities and Exchange Commission charged Diana Mae Fernandez, a former resident of New Jersey most recently living in Serbia, with conducting a $360,000 fraudulent securities offering. Fernandez is currently under arrest in Serbia and awaiting extradition to the United States pursuant to an indictment filed by the United States Attorney’s Office for the Northern District of West Virginia. The SEC's complaint alleges that, between 2018 and 2020, Fernandez induced investors to participate in the fraudulent securities offering by claiming that she would use their money to invest in, among other things, private and publicly traded companies, crypto assets, and luxury real estate properties, and guaranteeing returns as high as 63 percent. Instead of investing investor funds as promised, Fernandez allegedly used them to pay for her day-to-day living expenses and lavish hotel stays, fund numerous cash withdrawals, and make Ponzi-like payments to earlier investors. The SEC's complaint, filed in federal district court in the Northern District of West Virginia, charges Fernandez with violations of the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint seeks permanent injunctive relief, disgorgement of ill-gotten gains, prejudgment interest, civil monetary penalties, and an officer-and-director bar against Fernandez. The SEC's investigation was conducted by Michael F. McGraw in the Philadelphia Regional Office, and was supervised by Scott A. Thompson and Brendan P. McGlynn. The litigation will be led by Christopher Kelly and Gregory Bockin. The SEC acknowledges the assistance and cooperation of the United States Attorney’s Office for the Northern District of West Virginia. SEC Complaint
OCR text (2,102c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 25918 / December 28, 2023 Securities and Exchange Commission v. Diana Mae Fernandez, No. 5:23-cv-00372 (N.D. W.V. filed Dec. 21, 2023) SEC Charges Self-Styled Entrepreneur with Offering Fraud On December 21, 2023, the Securities and Exchange Commission charged Diana Mae Fernandez, a former resident of New Jersey most recently living in Serbia, with conducting a $360,000 fraudulent securities offering. Fernandez is currently under arrest in Serbia and awaiting extradition to the United States pursuant to an indictment filed by the United States Attorney’s Office for the Northern District of West Virginia. The SEC's complaint alleges that, between 2018 and 2020, Fernandez induced investors to participate in the fraudulent securities offering by claiming that she would use their money to invest in, among other things, private and publicly traded companies, crypto assets, and luxury real estate properties, and guaranteeing returns as high as 63 percent. Instead of investing investor funds as promised, Fernandez allegedly used them to pay for her day-to-day living expenses and lavish hotel stays, fund numerous cash withdrawals, and make Ponzi-like payments to earlier investors. The SEC's complaint, filed in federal district court in the Northern District of West Virginia, charges Fernandez with violations of the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint seeks permanent injunctive relief, disgorgement of ill-gotten gains, prejudgment interest, civil monetary penalties, and an officer-and-director bar against Fernandez. The SEC's investigation was conducted by Michael F. McGraw in the Philadelphia Regional Office, and was supervised by Scott A. Thompson and Brendan P. McGlynn. The litigation will be led by Christopher Kelly and Gregory Bockin. The SEC acknowledges the assistance and cooperation of the United States Attorney’s Office for the Northern District of West Virginia. SEC Complaint