SEC v. Saumil Thakkar; Poorvesh Thakkar; PASMAA GP Investment Fund Manager, LLC; and Perfect Group Holdings, LLC, No. LR-26483, Eastern District of Texas (Feb. 19, 2026) — Press Release
raw: Saumil Thakkar, Poorvesh Thakkar, et al.
Saumil Thakkar, Poorvesh Thakkar, et al., No. 1:26-cv-00067 (Feb. 19, 2026)
summary
The SEC charged brothers Saumil and Poorvesh Thakkar and their companies with a $12 million real estate offering fraud to seek injunctions, disgorgement, and civil penalties.
paragraph
The SEC filed charges against Saumil and Poorvesh Thakkar and their entities, PASMAA GP Investment Fund Manager, LLC and Perfect Group Holdings, LLC, for allegedly defrauding investors of over $12 million. The defendants face charges for violating antifraud provisions of the Securities Exchange Act of 1934 and the Securities Act of 1933. The SEC is seeking permanent injunctions, disgorgement, civil penalties, and conduct-based bans against the defendants.
narrative
The SEC filed a complaint against Texas residents Saumil and Poorvesh Thakkar and their companies, PASMAA GP Investment Fund Manager, LLC and Perfect Group Holdings, LLC, for an alleged real estate offering fraud. The brothers reportedly raised more than $12 million for a private fund by making material misrepresentations regarding project costs, asset contracts, and pre-leased properties. Additionally, the defendants allegedly misrepresented the Thakkar family's personal investment levels and failed to disclose critical related-party agreements. The SEC is pursuing charges for violations of the Securities Exchange Act of 1934 and the Securities Act of 1933. Relief sought includes permanent injunctions, disgorgement with interest, and civil penalties. Furthermore, the SEC is seeking conduct-based injunctions to bar the Thakkars from participating in most security issuances and sales.
Classified pre-ipo-fraud(confidence 70%). EDGAR detection: forms S-1/Form D/1-A· recall 72% / precision 8%. detection rule →
Statutes
Parties
Securities and Exchange CommissionThakkar <b> <font color="red"> Case transferred to the Sherman Division </b> </font>
Keywords
thakkarfundsaumil thakkarthakkar poorveshpoorvesh thakkarsecurities exchangereal estatesecuritiespasmaafund managerperfect groupthakkars pasmaasaumilsecagainst
Exhibits & Attached Documents (1)
Extracted insights
Dollar amounts 1
- $12.00M $12 million $10M–$100M
Entities 6
- person Matthew Gulde
- company pasmaa gp investment fund manager, llc and perfect group holdings, llc
- person real estate offering fraud
- agency sec investigation
- agency Securities and Exchange Commission
- person thakkar family investment amount
Triples 11
- SEC Filed Charges Against Saumil Thakkar, Poorvesh Thakkar, Pasmaa GP Investment Fund Manager, LLC, and Perfect Group Holdings, LLC
- Saumil Thakkar and Poorvesh Thakkar Conducted Real Estate Offering Fraud
- S. Thakkar and P. Thakkar Raised More Than $12 Million
- The Thakkars Controlled Pasmaa GP Investment Fund Manager, LLC and Perfect Group Holdings, LLC
- The Defendants Made Several Misrepresentations
- The Defendants Misrepresented Thakkar Family Investment Amount
- The Defendants Failed To Disclose Related-Party Agreements
- SEC Charges The Thakkars, Pasmaa, and Perfect Group With Violating Antifraud Provisions
- SEC Seeks Permanent Injunctions Against All Defendants
- Christopher Reynolds and Melvin Warren Conducted SEC Investigation
- Matthew Gulde Will Lead Litigation
PDF (from attached: complaint)
Text layers
Extracted body text (2,632c)
U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26483 / February 19, 2026Securities and Exchange Commission v. Saumil Thakkar, Poorvesh Thakkar, PASMAA GP Investment Fund Manager, LLC, and Perfect Group Holdings, LLC, No. 1:26-cv-00067 (E.D. Tex. filed Feb. 18, 2026)SEC Charges Brothers in North Texas in Connection with Alleged Real Estate Offering FraudOn February 18, 2026, the Securities and Exchange Commission filed charges against Texas residents and brothers Saumil Thakkar and Poorvesh Thakkar, and two companies they control, for allegedly conducting a real estate offering fraud.The SEC’s complaint alleges that S. Thakkar and P. Thakkar fraudulently raised more than $12 million for a real estate investment-focused private fund. The Thakkars controlled both the fund’s manager, PASMAA GP Investment Fund Manager, LLC, and the fund’s sponsor, Perfect Group Holdings, LLC. As alleged in the complaint, the defendants made several misrepresentations in the fund’s written offering materials, emails sent to prospective investors, and in verbal investment solicitations. The alleged misrepresentations concerned key aspects of the Fund’s real estate investments, including, among other things, understated project costs, a large asset claimed to be under contract, and property under development that was purportedly pre-leased. The complaint further alleges the defendants misrepresented how much money the Thakkar family invested in the fund and failed to disclose related-party agreements, rendering statements in the fund’s private placement memorandum misleading.The SEC’s complaint, filed in the Eastern District of Texas, charges the Thakkars, PASMAA, and Perfect Group with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(b) thereunder. The complaint also charges the Thakkars and PASMAA with violating the antifraud provisions of Section 17(a)(2) of the Securities Act of 1933. The SEC seeks permanent injunctions against all defendants, disgorgement with prejudgment interest against the Thakkars and PASMAA, civil penalties against Saumil Thakkar and PASMAA, and conduct-based injunctions against the Thakkars, barring them from participating in the issuance, purchase, offer, or sale of any security, except for purchases or sales of securities for their own personal accounts.The SEC's investigation was conducted by Christopher Reynolds and Melvin Warren, and supervised by Nikolay Vydashenko and Jaime Marinaro, all of the SEC’s Fort Worth Regional Office. The litigation will be led by Matthew Gulde and supervised by Keefe Bernstein.
OCR text (2,632c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26483 / February 19, 2026Securities and Exchange Commission v. Saumil Thakkar, Poorvesh Thakkar, PASMAA GP Investment Fund Manager, LLC, and Perfect Group Holdings, LLC, No. 1:26-cv-00067 (E.D. Tex. filed Feb. 18, 2026)SEC Charges Brothers in North Texas in Connection with Alleged Real Estate Offering FraudOn February 18, 2026, the Securities and Exchange Commission filed charges against Texas residents and brothers Saumil Thakkar and Poorvesh Thakkar, and two companies they control, for allegedly conducting a real estate offering fraud.The SEC’s complaint alleges that S. Thakkar and P. Thakkar fraudulently raised more than $12 million for a real estate investment-focused private fund. The Thakkars controlled both the fund’s manager, PASMAA GP Investment Fund Manager, LLC, and the fund’s sponsor, Perfect Group Holdings, LLC. As alleged in the complaint, the defendants made several misrepresentations in the fund’s written offering materials, emails sent to prospective investors, and in verbal investment solicitations. The alleged misrepresentations concerned key aspects of the Fund’s real estate investments, including, among other things, understated project costs, a large asset claimed to be under contract, and property under development that was purportedly pre-leased. The complaint further alleges the defendants misrepresented how much money the Thakkar family invested in the fund and failed to disclose related-party agreements, rendering statements in the fund’s private placement memorandum misleading.The SEC’s complaint, filed in the Eastern District of Texas, charges the Thakkars, PASMAA, and Perfect Group with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(b) thereunder. The complaint also charges the Thakkars and PASMAA with violating the antifraud provisions of Section 17(a)(2) of the Securities Act of 1933. The SEC seeks permanent injunctions against all defendants, disgorgement with prejudgment interest against the Thakkars and PASMAA, civil penalties against Saumil Thakkar and PASMAA, and conduct-based injunctions against the Thakkars, barring them from participating in the issuance, purchase, offer, or sale of any security, except for purchases or sales of securities for their own personal accounts.The SEC's investigation was conducted by Christopher Reynolds and Melvin Warren, and supervised by Nikolay Vydashenko and Jaime Marinaro, all of the SEC’s Fort Worth Regional Office. The litigation will be led by Matthew Gulde and supervised by Keefe Bernstein.