SEC v. Lottery.com, Inc.; Lawrence Anthony DiMatteo; Matthew Clemenson; Ryan Dickinson; and Vadim Komissarov, No. LR-26464, Southern District of New York (Jan. 23, 2026) — Press Release

U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26464 / January 23, 2026Securities and Exchange Commission v. Lawrence Anthony DiMatteo, et al., No. 1:26-cv-00603 (S.D.N.Y. filed Jan. 22, 2026)SEC Charges Public Company, its Former CEO, and Two Former Executives Along with CEO of SPAC in Alleged Financial FraudOn January 22, 2026, the Securities and Exchange Commission filed charges against Lottery.com, Inc., its former CEO, Lawrence Anthony DiMatteo, two of its former executives, Matthew Clemenson and Ryan Dickinson, and Vadim Komissarov, the CEO of Trident Acquisitions Corp., a special purpose acquisition company, for allegedly conducting a fraudulent scheme and making false statements in connection with a SPAC merger.The SEC's complaint, filed in federal district court in Manhattan, alleges that Komissarov planned and executed — with the participation of DiMatteo, Clemenson, and Dickinson — a revenue scam in which Lottery purportedly received $9 million for valueless customer data, booked it as revenue, and then used that $9 million to overpay for two Mexican businesses and, thus, return the $9 million to its source. The complaint further alleges that, in the weeks before the SPAC merger, DiMatteo, Clemenson, and Dickinson engaged in a second revenue scam – a bogus $30 million sale of advertising credits – and, following the merger, executed two additional bogus sales totaling over $35 million. According to the complaint, these revenue scams accounted for most of Lottery.com’s purported revenue, misled investors who relied upon Lottery.com’s inflated financials, and caused investors to suffer substantial losses.The SEC's complaint charges the defendants with violating Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 14(a) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14a-9 thereunder. The complaint also charges Lottery.com with violating Section 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act, and related rules thereunder; and DiMatteo, Clemenson, and Dickinson with aiding and abetting those violations. The complaint further charges DiMatteo, Clemenson, and Dickinson with violating Section 13(b)(5) of the Exchange Act and other Exchange Act rules. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against all defendants, as well as officer-and-director bars against Komissarov, DiMatteo, Clemenson, and Dickinson.Without denying the SEC’s allegations, Clemenson and Dickinson consented to the entry of judgments, subject to court approval, in which each agreed to be permanently enjoined from violating the charged provisions of federal securities law and from acting as an officer or director of any public company, and agreed to pay disgorgement, prejudgment interest, and/or a civil penalty in an amount to be determined by the court, upon motion by the SEC.The SEC's investigation was conducted by Bobby Gray, Joseph Burson, and Matthew Finnegan and supervised by Jeff Leasure and D. Mark Cave. The litigation will be led by Damon Taaffe and supervised by Melissa Armstrong.

U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26464 / January 23, 2026Securities and Exchange Commission v. Lawrence Anthony DiMatteo, et al., No. 1:26-cv-00603 (S.D.N.Y. filed Jan. 22, 2026)SEC Charges Public Company, its Former CEO, and Two Former Executives Along with CEO of SPAC in Alleged Financial FraudOn January 22, 2026, the Securities and Exchange Commission filed charges against Lottery.com, Inc., its former CEO, Lawrence Anthony DiMatteo, two of its former executives, Matthew Clemenson and Ryan Dickinson, and Vadim Komissarov, the CEO of Trident Acquisitions Corp., a special purpose acquisition company, for allegedly conducting a fraudulent scheme and making false statements in connection with a SPAC merger.The SEC's complaint, filed in federal district court in Manhattan, alleges that Komissarov planned and executed — with the participation of DiMatteo, Clemenson, and Dickinson — a revenue scam in which Lottery purportedly received $9 million for valueless customer data, booked it as revenue, and then used that $9 million to overpay for two Mexican businesses and, thus, return the $9 million to its source. The complaint further alleges that, in the weeks before the SPAC merger, DiMatteo, Clemenson, and Dickinson engaged in a second revenue scam – a bogus $30 million sale of advertising credits – and, following the merger, executed two additional bogus sales totaling over $35 million. According to the complaint, these revenue scams accounted for most of Lottery.com’s purported revenue, misled investors who relied upon Lottery.com’s inflated financials, and caused investors to suffer substantial losses.The SEC's complaint charges the defendants with violating Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 14(a) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14a-9 thereunder. The complaint also charges Lottery.com with violating Section 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act, and related rules thereunder; and DiMatteo, Clemenson, and Dickinson with aiding and abetting those violations. The complaint further charges DiMatteo, Clemenson, and Dickinson with violating Section 13(b)(5) of the Exchange Act and other Exchange Act rules. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against all defendants, as well as officer-and-director bars against Komissarov, DiMatteo, Clemenson, and Dickinson.Without denying the SEC’s allegations, Clemenson and Dickinson consented to the entry of judgments, subject to court approval, in which each agreed to be permanently enjoined from violating the charged provisions of federal securities law and from acting as an officer or director of any public company, and agreed to pay disgorgement, prejudgment interest, and/or a civil penalty in an amount to be determined by the court, upon motion by the SEC.The SEC's investigation was conducted by Bobby Gray, Joseph Burson, and Matthew Finnegan and supervised by Jeff Leasure and D. Mark Cave. The litigation will be led by Damon Taaffe and supervised by Melissa Armstrong.