SEC v. Cheetah X Inc. (d/b/a Go X); Alexander Debelov; and Khodr Salam, No. LR-26341, Southern District of Florida (July 3, 2025) — Press Release

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26341 / July 3, 2025 Securities and Exchange Commission v. Cheetah X Inc. (d/b/a Go X), Alexander Debelov, and Khodr Salam, No. 25-cv-23002 (S.D. Fla. filed July 3, 2025) SEC Charges Scooter Rental Company and its Officers with $4 Million Offering Fraud The Securities and Exchange Commission today filed fraud charges against scooter rental company Cheetah X Inc. (d/b/a Go X), CEO Alexander Debelov, and President of Operations Khodr Salam (a/k/a Khodor Salam), for raising around $4 million from approximately three hundred investors with unfounded claims about past performance, expected returns, and guaranteed refunds. The SEC's complaint alleges that, from July 2021 through November 2023, Go X, Debelov, and Salam misleadingly represented to investors that they could expect to be paid back their principal plus receive returns up to 100 percent in a year or less, with less risk than investing in the S&P 500 and “guaranteed” refunds upon request. According to the complaint, by the end of 2023, Go X had paid investors less than half of their approximately $4 million in investment principal. The complaint also alleges that Go X failed to pay refunds when investors requested them and was sharply unprofitable, putting unwitting investors at substantial risk. As alleged, the poor performance of the Go X investment led to multiple complaints from dissatisfied investors, yet Debelov and Salam continued to sell the investment with the same sales pitch. The SEC’s complaint, filed in the U.S. District Court for the Southern District of Florida, charges Go X, Debelov, and Salam with violating the antifraud provisions of Sections 17(a)(1) and 17(a)(3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and the securities registration provisions of Sections 5(a) and 5(c) of the Securities Act. The complaint further charges Go X with violating Section 17(a)(2) of the Securities Act. The complaint seeks permanent injunctions against future violations of the foregoing provisions and civil money penalties against all defendants. It also seeks an order requiring Go X to disgorge its ill-gotten gains with prejudgment interest. The SEC’s Office of Investor Education and Advocacy has issued investor alerts on the red flags of investment fraud. Additional information is available on Investor.gov. The SEC's investigation was conducted by Thomas Eme and Michael Foley, and was supervised by Christina N. Filipp and Jason Lee, all of the SEC’s San Francisco Regional Office. The litigation will be led by Christine Nestor and supervised by Teresa Verges, both of the SEC’s Miami Regional Office.

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26341 / July 3, 2025 Securities and Exchange Commission v. Cheetah X Inc. (d/b/a Go X), Alexander Debelov, and Khodr Salam, No. 25-cv-23002 (S.D. Fla. filed July 3, 2025) SEC Charges Scooter Rental Company and its Officers with $4 Million Offering Fraud The Securities and Exchange Commission today filed fraud charges against scooter rental company Cheetah X Inc. (d/b/a Go X), CEO Alexander Debelov, and President of Operations Khodr Salam (a/k/a Khodor Salam), for raising around $4 million from approximately three hundred investors with unfounded claims about past performance, expected returns, and guaranteed refunds. The SEC's complaint alleges that, from July 2021 through November 2023, Go X, Debelov, and Salam misleadingly represented to investors that they could expect to be paid back their principal plus receive returns up to 100 percent in a year or less, with less risk than investing in the S&P 500 and “guaranteed” refunds upon request. According to the complaint, by the end of 2023, Go X had paid investors less than half of their approximately $4 million in investment principal. The complaint also alleges that Go X failed to pay refunds when investors requested them and was sharply unprofitable, putting unwitting investors at substantial risk. As alleged, the poor performance of the Go X investment led to multiple complaints from dissatisfied investors, yet Debelov and Salam continued to sell the investment with the same sales pitch. The SEC’s complaint, filed in the U.S. District Court for the Southern District of Florida, charges Go X, Debelov, and Salam with violating the antifraud provisions of Sections 17(a)(1) and 17(a)(3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and the securities registration provisions of Sections 5(a) and 5(c) of the Securities Act. The complaint further charges Go X with violating Section 17(a)(2) of the Securities Act. The complaint seeks permanent injunctions against future violations of the foregoing provisions and civil money penalties against all defendants. It also seeks an order requiring Go X to disgorge its ill-gotten gains with prejudgment interest. The SEC’s Office of Investor Education and Advocacy has issued investor alerts on the red flags of investment fraud. Additional information is available on Investor.gov. The SEC's investigation was conducted by Thomas Eme and Michael Foley, and was supervised by Christina N. Filipp and Jason Lee, all of the SEC’s San Francisco Regional Office. The litigation will be led by Christine Nestor and supervised by Teresa Verges, both of the SEC’s Miami Regional Office.