2026-02-27 sec-litreleases pdf 80 KB 4,984 chars

In re OFER ABARBANEL

Enriched metadata

Scheme: investment-adviser-fraud (100%)
Court: Southern District of New York
Outcome: pleaded · 2022-09-07
Restitution: $106,000,000

Classified investment-adviser-fraud(confidence 100%). EDGAR detection: forms ADV/ADV-E/ADV-W/Form D· recall 33% / precision 13%. detection rule →

Extracted insights

Dollar amounts 1

$106.00M $106,000,000 $100M–$1B

Entities 2

organization New York Alaska ETF Management LLC
person ofer abarbanel

Triples 10

Ofer Abarbanel Is Citizen Of Israel
Ofer Abarbanel Is Naturalized U.S. Citizen
Ofer Abarbanel Resides In Woodland Hills, California Since 2016
Ofer Abarbanel Was Owner And Sole Control Person For New York Alaska ETF Management LLC From January 2015 To March 2019
Ofer Abarbanel Formed And Controlled State Funds – Enhanced Ultra-Short Duration Mutual Fund
Ofer Abarbanel Formed And Controlled Income Collecting 1-3 Months T Bills Mutual Fund
Ofer Abarbanel Pled Guilty To Investment Adviser Fraud On September 7, 2022
Ofer Abarbanel Was Sentenced To 48 Months Prison Term On May 17, 2023
Ofer Abarbanel Ordered To Make Restitution Of $106,000,000
Commission Barred Ofer Abarbanel From Association With Any Broker, Dealer, Investment Adviser, Municipal Securities Dealer, Municipal Advisor, Transfer Agent, Or Nationally Recognized Statistical Rating Organization

PDF

In re OFER ABARBANEL · Source

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Extracted body text (4,984c)

UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

INVESTMENT ADVISERS ACT OF 1940

Release No. 6949 / February 27, 2026

ADMINISTRATIVE PROCEEDING

File No. 3-22603

In the Matter of

OFER ABARBANEL,

Respondent.

ORDER INSTITUTING

ADMINISTRATIVE PROCEEDINGS

PURSUANT TO SECTION 203(f) OF THE

INVESTMENT ADVISERS ACT OF 1940,

MAKING FINDINGS, AND IMPOSING

REMEDIAL SANCTIONS

The Securities and Exchange Commission (“Commission”) deems it appropriate and in the

public interest that public administrative proceedings be, and hereby are, instituted pursuant to

203(f) of the Investment Advisers Act of 1940 (“Advisers Act”) against Ofer Abarbanel

(“Abarbanel,” or “Respondent”).

II.

In anticipation of the institution of these proceedings, Respondent has submitted an Offer

of Settlement (the “Offer”) which the Commission has determined to accept. Solely for the

purpose of these proceedings and any other proceedings brought by or on behalf of the

Commission, or to which the Commission is a party, Respondent admits the Commission’s

jurisdiction over him and the subject matter of these proceedings, and the findings contained in

paragraph III.2 below, and consents to the entry of this Order Instituting Administrative

Proceedings Pursuant To Section 203(f) Of The Investment Advisers Act of 1940, Making

Findings, And Imposing Remedial Sanctions (“Order”), as set forth below.

III.

On the basis of this Order and Respondent’s Offer, the Commission finds that:

1. Abarbanel, age 51, is a citizen of Israel and a naturalized U.S. citizen. He has

resided in Woodland Hills, California since at least 2016. From at least October 2014 to the present,

Abarbanel was the owner and sole control person for New York Alaska ETF Management LLC, a

limited liability company registered with the SEC as an investment adviser from approximately

January 2015 to March 2019. Abarbanel also formed and controlled two mutual funds: the State

Funds – Enhanced Ultra-Short Duration Mutual Fund, an open-end mutual fund registered with the

Commission as an investment company based in Nevada, and the Income Collecting 1-3 Months T

Bills Mutual Fund (the “Income Collecting Fund”), a mutual fund registered in the Cayman Islands.

2. On September 7, 2022, Abarbanel pled guilty to one count of investment adviser

fraud, in violation of 15 U.S.C. §§ 80b-6, 80b-17, and 18 U.S.C. § 2 before the United States

District Court for the Southern District of New York in United States v. Ofer Abarbanel, Case

No. 21-CR-532. On May 17, 2023, Abarbanel was sentenced to a prison term of 48 months

followed by two years of supervised release and ordered to make restitution in the amount of

$106,000,000.

3. The count of the criminal information to which Abarbanel pled guilty alleged, inter

alia, that Abarbanel, in violation of his fiduciary duties, engaged in a scheme to defraud investors

and prospective investors in the Income Collecting Fund by making false and misleading

statements to them regarding the Income Collecting Fund’s investments.

IV.

In view of the foregoing, the Commission deems it appropriate and in the public interest to

impose the sanctions agreed to in Respondent Abarbanel’s Offer.

Accordingly, it is hereby ORDERED pursuant to Section 203(f) of the Advisers Act that

Respondent Abarbanel be, and hereby is barred from association with any broker, dealer,

investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally

recognized statistical rating organization.

Any application for reentry by the Respondent will be made to the appropriate self-

regulatory organization, or if there is none, to the Commission by contacting the Division of

Enforcement’s Office of Chief Counsel at [email protected], and will be subject to the

applicable laws and regulations governing the reentry process. Reentry may be conditioned upon a

number of factors, including, but not limited to, compliance with the Commission’s order and

payment of any or all of the following: (a) any disgorgement or civil penalties ordered by a Court

against the Respondent in any action brought by the Commission; (b) any disgorgement amounts

ordered against the Respondent for which the Commission waived payment; (c) any arbitration

award related to the conduct that served as the basis for the Commission order; (d) any self-

regulatory organization arbitration award to a customer, whether or not related to the conduct that

served as the basis for the Commission order; and (e) any restitution order by a self-regulatory

organization, whether or not related to the conduct that served as the basis for the Commission

order.

By the Commission.

Vanessa A. Countryman

Secretary

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