Kelly L. Gibson, Director of the SEC’s Philadelphia Regional Office commented:
As alleged in our complaint, Boice and Trustify lied to investors about their failing business to give the appearance of a thriving technology startup, while misappropriating investor funds to support an extravagant lifestyle. The scheme resulted in millions of dollars in investors losses, and the SEC will do all it can to hold the defendants accountable.
The SEC charges Boice and Trustify with fraud and seeks permanent injunctive relief, disgorgement with prejudgment interest and civil penalties. The agency also named GoLean and former Trustify executive Jennifer Mellon as relief defendants, seeking the return of proceeds of the fraud to which they had no legitimate claim.
Additionally, the US Attorney’s Office for the Eastern District of Virginia and the Fraud Section of the US Department of Justice announced bringing criminal charges against Daniel Boice for wire fraud, securities fraud and money laundering.
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