SEC v. Samir Rao; and Suzee Han, No. LR-26506, Eastern District of New York (Mar. 24, 2026) — Press Release
raw: Ozy Media, Inc.
Ozy Media, Inc., No. 1:23-cv-01424 (E.D.N.Y. Mar. 24, 2026)
Former Ozy Media executives Samir Rao and Suzee Han obtained final consent judgments to resolve SEC litigation regarding a $50 million fundraising scheme based on inflated revenue figures.
Former Ozy Media COO Samir Rao and Chief of Staff Suzee Han faced SEC charges for misrepresenting the company's financial condition to raise approximately $50 million. The defendants inflated annual revenues by at least 100 percent annually from 2018 through 2020 to deceive investors. The final judgments include permanent injunctions against violating federal antifraud provisions under the Securities Act of 1933 and the Securities Exchange Act of 1934.
The SEC successfully obtained final consent judgments against former Ozy Media executives Samir Rao and Suzee Han to resolve litigation involving approximately $50 million in investor funds. The defendants were accused of inflating Ozy Media's annual revenue by at least 100 percent between 2018 and 2020 and misrepresenting business relationships. Rao, the former COO, provided false financial data, while Han, the former Chief of Staff, assisted in disseminating these statements. The final judgments permanently enjoin both executives from violating federal antifraud provisions. Additionally, Rao received a three-year bar from serving as an officer or director of a public company, a reduction from an initial ten-year bar. This resolution concludes the SEC's enforcement action initiated in February 2023.
Exhibits & Attached Documents (3)
Extracted insights
- $50.00M $50 million $10M–$100M
- person final judgments
- company three-year bar from acting as officer or director of public company
- court united states district court for the eastern district of new york
- United States District Court for the Eastern District of New York entered final judgments as to Samir Rao and Suzee Han
- four defendants raised approximately $50 million from investors
- Rao provided false financial information to prospective investors
- Rao inflated Ozy Media's annual revenue by at least 100 percent
- Han helped prepare false statements to investors
- final judgments enjoin Rao and Han from violating antifraud provisions
- final judgment as to Rao imposes three-year bar from acting as officer or director of public company
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No.26506 / March 24, 2026Securities and Exchange Commission v. Ozy Media, Inc., et al., No. 1:23-cv-01424 (E.D.N.Y. filed Feb. 23, 2023)SEC Obtains Final Consent Judgments as to Former Ozy Media ExecutivesOn March 18, 2026, the United States District Court for the Eastern District of New York entered final judgments as to former COO of Ozy Media, Inc., Samir Rao, and its former Chief of Staff Suzee Han, resolving the Commission’s litigation against them.The SEC’s complaint, filed on February 23, 2023, alleged that four defendants raised approximately $50 million from investors through repeated misrepresentations concerning Ozy Media's financial condition, business relationships, and fundraising efforts. As alleged, Rao provided prospective investors with false financial information that vastly inflated Ozy Media's annual revenue by at least 100 percent annually from 2018 through 2020 and Han helped to prepare and disseminate these false statements to investors.The final judgments permanently enjoin Rao and Han from violating the antifraud provisions of 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 judgment as to Rao also imposes a three-year bar prohibiting him from acting as an officer or director of any public company, modified from the ten-year bar that had been previously imposed on March 14, 2023.
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No.26506 / March 24, 2026Securities and Exchange Commission v. Ozy Media, Inc., et al., No. 1:23-cv-01424 (E.D.N.Y. filed Feb. 23, 2023)SEC Obtains Final Consent Judgments as to Former Ozy Media ExecutivesOn March 18, 2026, the United States District Court for the Eastern District of New York entered final judgments as to former COO of Ozy Media, Inc., Samir Rao, and its former Chief of Staff Suzee Han, resolving the Commission’s litigation against them.The SEC’s complaint, filed on February 23, 2023, alleged that four defendants raised approximately $50 million from investors through repeated misrepresentations concerning Ozy Media's financial condition, business relationships, and fundraising efforts. As alleged, Rao provided prospective investors with false financial information that vastly inflated Ozy Media's annual revenue by at least 100 percent annually from 2018 through 2020 and Han helped to prepare and disseminate these false statements to investors.The final judgments permanently enjoin Rao and Han from violating the antifraud provisions of 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 judgment as to Rao also imposes a three-year bar prohibiting him from acting as an officer or director of any public company, modified from the ten-year bar that had been previously imposed on March 14, 2023.