SEC v. NDB, Inc.; and Nima Golsharifi, No. LR-26323, Northern District of California (June 11, 2025) — Press Release
raw: NDB, Inc.; Nima Golsharifi
NDB, Inc.; Nima Golsharifi, No. 3:23-cv-04724 (June 11, 2025)
NDB, Inc. and CEO Nima Golsharifi obtained final judgments for conducting an offering fraud through false battery technology claims, resulting in over $300,000 in combined penalties.
NDB, Inc. and CEO Nima Golsharifi were charged with conducting an offering fraud by making false claims about battery testing and beta customers to raise over $1.2 million. The defendants face violations of the Securities Act of 1933 and the Securities Exchange Act of 1934. Final judgments include a $200,000 penalty for NDB and a $100,000 penalty for Golsharifi, alongside a two-year officer and director bar for the CEO.
The SEC obtained final judgments against NDB, Inc. and its CEO, Nima Golsharifi, for conducting an offering fraud via misleading press releases. The company, which claimed to be developing nuclear-based battery technology, raised over $1.2 million by falsely asserting successful laboratory tests and the acquisition of beta customers. In reality, no such testing or customer agreements had occurred at the time of the announcement. To resolve charges of violating the Securities Act of 1933 and the Securities Exchange Act of 1934, NDB was ordered to pay a $200,000 civil penalty. Golsharifi must pay a $100,000 penalty and is barred from serving as a public company officer or director for two years. Additionally, Golsharifi is prohibited from participating in security issuances or sales for a two-year period. Both defendants consented to these judgments without admitting or denying the allegations.
Exhibits & Attached Documents (2)
Extracted insights
- $1.20M $1.2 million $1M–$10M
- $200K $200,000 $100K–$1M
- $100K $100,000 $100K–$1M
- person false claims
- person final judgments
- person fraudulent statements
- company ndb, inc.
- organization NDB, Inc.
- person nima golsharifi
- agency Securities and Exchange Commission
- organization Securities and Exchange Commission
- Securities And Exchange Commission Obtains Final Judgments
- NDB, Inc. Made Fraudulent Statements
- Nima Golsharifi Charged Conducting Offering Fraud
- NDB, Inc. Raised $1.2 Million
- NDB, Inc. Claimed Successful Battery Technology Tests
- Securities And Exchange Commission Alleged False Claims
- NDB, Inc. Consented Final Judgments
- NDB, Inc. Pay $200,000 Civil Penalty
- Nima Golsharifi Pay $100,000 Civil Penalty
- Nima Golsharifi Barred Acting As Officer Or Director
- Silvana a. Quintanilla Conducted Securities And Exchange Commission Litigation
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26323 / June 11, 2025 Securities and Exchange Commission v. NDB, Inc. and Nima Golsharifi, No. 3:23-cv-04724 (N.D. Cal. filed Sept. 14, 2023) SEC Obtains Final Judgments Against NDB, Inc. and Nima Golsharifi for Fraudulent Statements in Press Release On June 9, 2025, the U.S. District Court for the Northern District of California entered final judgments against defendants NDB, Inc. and its CEO, Nima Golsharifi, who were charged by the Securities and Exchange Commission with conducting an offering fraud by making materially false and misleading statements in a company press release. The SEC’s complaint, filed on September 14, 2023, alleged that NDB is a private startup company formerly based in San Francisco, California, that is purportedly developing a nuclear-based battery. NDB and Golsharifi allegedly raised over $1.2 million from investors after falsely claiming in an August 25, 2020 press release that NDB had successfully tested its battery technology at two preeminent laboratories in the United States and United Kingdom, and that NDB had signed its first two beta customers. The SEC’s complaint alleged that these claims were false and misleading because NDB had not tested its battery technology at either laboratory and NDB had not signed any beta customers at the time of the press release. Without admitting or denying the allegations in the complaint, NDB and Golsharifi consented to the entry of the final judgments permanently enjoining them from violating 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 final judgments also order NDB to pay a $200,000 civil penalty; order Golsharifi to pay a $100,000 civil penalty; bar Golsharifi from acting as an officer or director of a public company for a period of two years; and prohibit Golsharifi from participating in the issuance, purchase, offer, or sale of any security for a period of two years, other than purchasing or selling securities for his own personal accounts. The SEC’s litigation was conducted by Silvana A. Quintanilla of the SEC’s San Francisco Regional Office, and Emmett J. Murphy and Ben N. Kuruvilla of the New York Regional Office. It was supervised by David Zhou and Daniel Loss.
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26323 / June 11, 2025 Securities and Exchange Commission v. NDB, Inc. and Nima Golsharifi, No. 3:23-cv-04724 (N.D. Cal. filed Sept. 14, 2023) SEC Obtains Final Judgments Against NDB, Inc. and Nima Golsharifi for Fraudulent Statements in Press Release On June 9, 2025, the U.S. District Court for the Northern District of California entered final judgments against defendants NDB, Inc. and its CEO, Nima Golsharifi, who were charged by the Securities and Exchange Commission with conducting an offering fraud by making materially false and misleading statements in a company press release. The SEC’s complaint, filed on September 14, 2023, alleged that NDB is a private startup company formerly based in San Francisco, California, that is purportedly developing a nuclear-based battery. NDB and Golsharifi allegedly raised over $1.2 million from investors after falsely claiming in an August 25, 2020 press release that NDB had successfully tested its battery technology at two preeminent laboratories in the United States and United Kingdom, and that NDB had signed its first two beta customers. The SEC’s complaint alleged that these claims were false and misleading because NDB had not tested its battery technology at either laboratory and NDB had not signed any beta customers at the time of the press release. Without admitting or denying the allegations in the complaint, NDB and Golsharifi consented to the entry of the final judgments permanently enjoining them from violating 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 final judgments also order NDB to pay a $200,000 civil penalty; order Golsharifi to pay a $100,000 civil penalty; bar Golsharifi from acting as an officer or director of a public company for a period of two years; and prohibit Golsharifi from participating in the issuance, purchase, offer, or sale of any security for a period of two years, other than purchasing or selling securities for his own personal accounts. The SEC’s litigation was conducted by Silvana A. Quintanilla of the SEC’s San Francisco Regional Office, and Emmett J. Murphy and Ben N. Kuruvilla of the New York Regional Office. It was supervised by David Zhou and Daniel Loss.