2025-06-24 sec-litreleases litigation_release 65 KB 2,495 chars

SEC v. Ian O. Mausner; and Evolution Lending, LLC, No. LR-26333, Southern District of California (June 24, 2025) — Press Release

raw: Ian O. Mausner; Evolution Lending, LLC

Ian O. Mausner; Evolution Lending, LLC, No. 3:25-cv-01591-BTM (June 24, 2025)

Caption
Securities and Exchange Commission v. Ian O. Mausner and Evolution Lending, LLC
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summary

The SEC charged recidivist Ian O. Mausner and Evolution Lending, LLC, with conducting a fraudulent $400,000 unregistered cryptocurrency fund offering.

paragraph

Ian O. Mausner and Evolution Lending, LLC, are charged with conducting a fraudulent unregistered offering of limited partnership interests in the Cryptocurrency Growth Fund L.P. that raised over $400,000 from 11 investors. The defendants allegedly misrepresented crypto asset holdings and failed to disclose Mausner’s prior SEC disciplinary history. The SEC is seeking permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties for violations of the Securities Act, Exchange Act, and Advisers Act.

narrative

The SEC has charged recidivist Ian O. Mausner and his firm, Evolution Lending, LLC, with conducting a fraudulent unregistered offering of limited partnership interests in the Cryptocurrency Growth Fund L.P. Between December 2020 and January 2022, the defendants raised more than $400,000 from at least 11 investors. The complaint alleges that Mausner failed to disclose his prior SEC disciplinary history and falsely claimed how crypto assets would be held. Furthermore, Mausner commingled investor funds with unrelated accounts, violating his fiduciary duties. The defendants face charges for violating antifraud and registration provisions under the Securities Act, the Exchange Act, and the Advisers Act. The SEC is seeking permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties.

Enriched metadata

Scheme
unregistered-securities (100%)
Court
Southern District of California
Case No.
3:25-cv-01591-BTM
Victim loss
$400,000
Victims
11
Entity
Evolution Lending, LLC
Classified unregistered-securities(confidence 100%). EDGAR detection: forms Form D/S-1· recall 41% / precision 30%. detection rule →
Statutes
Sections 5(a), 5(c), and 17(a) of the Securities ActSections 5(a), 5(c), and 17(a) of the Securities ActSections 5(a), 5(c), and 17(a) of the Securities ActRule 10b-5
Parties
Securities and Exchange CommissionIan O. MausnerEvolution Lending, LLC
Keywords
evolution lendingmausnermausner evolutionevolutionlendingsecurities exchangesecexchange commissionsecuritiesfundianllcexchangeofferinginvestors

Exhibits & Attached Documents (1)

Extracted insights

Dollar amounts 1
  • $400K $400,000 $100K–$1M
Entities 3
  • court in the u.s. district court for the southern district of california
  • agency Securities and Exchange Commission
  • agency the sec’s office of investor education and advocacy
Triples 11
  • Securities And Exchange Commission Charges Recidivist And His Firm With Fraudulent Offering
  • Securities And Exchange Commission Filed a Complaint In The U.S. District Court For The Southern District Of California
  • Mausner And Evolution Lending Conducted a Fraudulent Offering That Raised More Than $400,000 From At Least 11 Investors
  • Mausner And Evolution Lending Failed To Disclose Mausner’S Prior Disciplinary History
  • Mausner And Evolution Lending Falsely Claimed The Fund Would Invest In And Hold Crypto Assets For The Fund’S Benefit On Certain Crypto Asset Trading Platforms
  • Mausner Commingled Investor Funds With Unrelated Funds In Bank Accounts He Controlled
  • Mausner Aided And Abetted Evolution Lending’S Violations
  • The Complaint Seeks Permanent Injunctive Relief Disgorgement With Prejudgment Interest And Civil Penalties
  • The Sec’S Office Of Investor Education And Advocacy Encourages Investors To Check The Background Of Anyone Selling Or Offering Them An Investment Using The Free And Simple Search Tool On Investor.gov
  • Investors Can Use The Sali Feature To Find Information About Certain People Who Have Had Judgments Or Orders Issued Against Them In Sec Court Actions Or Administrative Proceedings
  • The Litigation Will Be Led By Daniel S. Lim And Supervised By Douglas M. Miller Also Of The Los Angeles Regional Office
PDF (from attached: complaint)
20(d)(1) and 22(a) of the Securities Act of 1933 (“Securities Act”), 15 U.S.C. §§ · Source
Text layers
Extracted body text (2,495c) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26333 / June 24, 2025 Securities and Exchange Commission v. Ian O. Mausner and Evolution Lending, LLC, No. 3:25-cv-01591-BTM-VET (S.D. Cal. filed June 23, 2025) SEC Charges Recidivist and His Firm with Fraudulent Offering On June23, 2025, the Securities and Exchange Commission charged recidivist Ian O. Mausner of San Diego, California, and his firm Evolution Lending, LLC, with conducting a fraudulent offering that raised more than $400,000 from at least 11 investors. According to the SEC’s complaint, from approximately December 2020 through January2022, Mausner—who previously had an SEC cease-and-desist order issued against him due to securities law violations—and Evolution Lending, defrauded investors in connection with an unregistered offering of limited partnership interests in the Cryptocurrency Growth Fund L.P. The complaint alleges that in selling interests in the Fund, Mausner and Evolution Lending failed to disclose Mausner’s prior disciplinary history and falsely claimed that the Fund would invest in and hold crypto assets for the Fund’s benefit on certain crypto asset trading platforms, when it did not. As further alleged in the complaint, Mausner commingled investor funds with unrelated funds in bank accounts he controlled, in violation of Mausner’s and Evolution Lending’s fiduciary duties to the Fund. The SEC’s complaint, filed in the U.S. District Court for the Southern District of California, charges Mausner and Evolution Lending with violating the antifraud and registration provisions under Sections 5(a), 5(c), and 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Sections 206(1), 206(2), and 206(4) of the Advisers Act and Rule206(4)-8 thereunder, and it charges Mausner with aiding and abetting Evolution Lending’s violations. The complaint seeks permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties. The SEC’s Office of Investor Education and Advocacy encourages investors to check the background of anyone selling or offering them an investment using the free and simple search tool on Investor.gov. Investors can also use the SALI feature to find information about certain people who have had judgments or orders issued against them in SEC court actions or administrative proceedings. The litigation will be led by Daniel S. Lim and supervised by Douglas M. Miller also of the Los Angeles Regional Office.
OCR text (2,495c · html-text · 99% conf) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26333 / June 24, 2025 Securities and Exchange Commission v. Ian O. Mausner and Evolution Lending, LLC, No. 3:25-cv-01591-BTM-VET (S.D. Cal. filed June 23, 2025) SEC Charges Recidivist and His Firm with Fraudulent Offering On June23, 2025, the Securities and Exchange Commission charged recidivist Ian O. Mausner of San Diego, California, and his firm Evolution Lending, LLC, with conducting a fraudulent offering that raised more than $400,000 from at least 11 investors. According to the SEC’s complaint, from approximately December 2020 through January2022, Mausner—who previously had an SEC cease-and-desist order issued against him due to securities law violations—and Evolution Lending, defrauded investors in connection with an unregistered offering of limited partnership interests in the Cryptocurrency Growth Fund L.P. The complaint alleges that in selling interests in the Fund, Mausner and Evolution Lending failed to disclose Mausner’s prior disciplinary history and falsely claimed that the Fund would invest in and hold crypto assets for the Fund’s benefit on certain crypto asset trading platforms, when it did not. As further alleged in the complaint, Mausner commingled investor funds with unrelated funds in bank accounts he controlled, in violation of Mausner’s and Evolution Lending’s fiduciary duties to the Fund. The SEC’s complaint, filed in the U.S. District Court for the Southern District of California, charges Mausner and Evolution Lending with violating the antifraud and registration provisions under Sections 5(a), 5(c), and 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Sections 206(1), 206(2), and 206(4) of the Advisers Act and Rule206(4)-8 thereunder, and it charges Mausner with aiding and abetting Evolution Lending’s violations. The complaint seeks permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties. The SEC’s Office of Investor Education and Advocacy encourages investors to check the background of anyone selling or offering them an investment using the free and simple search tool on Investor.gov. Investors can also use the SALI feature to find information about certain people who have had judgments or orders issued against them in SEC court actions or administrative proceedings. The litigation will be led by Daniel S. Lim and supervised by Douglas M. Miller also of the Los Angeles Regional Office.

Related documents (1)