SEC Charges Investment Fund Founder William K. Ichioka with $25 Million Offering Fraud
summary
William K. Ichioka, a New York‑based promoter, defrauded investors of about $25 million by falsely touting his unregistered Ichioka Ventures fund and using the money for personal luxuries and a Ponzi‑style payout scheme; he has agreed to a partial final judgment with permanent injunctions and an officer‑and‑director bar pending court approval.
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William K. Ichioka raised roughly $25 million from individual investors, mainly in California and Oregon, between June 2019 and October 2021 by claiming he was a self‑made multimillionaire and guaranteeing large returns through his unregistered Ichioka Ventures fund. He allegedly used new investors’ money to pay earlier investors, falsified bank statements, and misappropriated millions for luxury watches, cars, gambling, and a penthouse apartment. Ichioka has agreed to resolve the SEC’s antifraud charges via a partial final judgment that imposes permanent and conduct‑based injunctions, an officer‑and‑director bar, with disgorgement, interest and civil penalties to be determined later.
narrative
The SEC charged New York‑based William K. Ichioka with fraudulently raising about $25 million from individual investors, primarily in California and Oregon, from June 2019 through October 2021. He promoted an unregistered fund called Ichioka Ventures, falsely portraying himself as a successful multimillionaire investor and guaranteeing oversized returns. The complaint alleges he used new investors’ capital to repay earlier investors, creating a Ponzi‑like scheme, and falsified bank statements and other documents to fabricate success. Ichioka also misappropriated millions of dollars for personal luxuries, including watches, cars, gambling, and a penthouse apartment. He has agreed to a partial final judgment that includes permanent and conduct‑based injunctions and an officer‑and‑director bar, while disgorgement, prejudgment interest, and a civil penalty remain to be determined. Parallel criminal and regulatory actions were filed by the U.S. Attorney’s Office and the CFTC, with investigative assistance from the FBI and IRS‑CI.
Classified ponzi(confidence 100%). EDGAR detection: forms Form D· recall 35% / precision 15%. detection rule →
Statutes
15 U.S.C. § 78j(b)17 C.F.R. § 240.10b-5
Parties
Commodity Futures Trading Commissionichioka venturesmonique c. winkleroversized returnspartial final judgmentSecurities and Exchange Commissionwilliam k. ichioka
Keywords
ichiokasecinvestorsinvestment fundwilliam ichiokainvestmentreturnsinvestorfund founderfounder williamichioka millionmillion offeringoffering fraudinvestor fundsenrich himself
Exhibits & Attached Documents (1)
Extracted insights
Dollar amounts 1
- $25.00M $25 million $10M–$100M
Entities 7
- agency Commodity Futures Trading Commission
- company ichioka ventures
- person monique c. winkler
- person oversized returns
- person partial final judgment
- agency Securities and Exchange Commission
- person william k. ichioka
Triples 25
- Securities And Exchange Commission charged William K. Ichioka
- William K. Ichioka Raised $25 Million From Individual Investors Primarily In California And Oregon
- William K. Ichioka Used Investor Funds For Gambling And To Enrich Himself
- Ichioka Agreed To Resolve The Charges Against Him
- Securities And Exchange Commission Filed The Complaint In The United States District Court For The Northern District Of California
- Ichioka Solicited Investments For Ichioka Ventures
- Ichioka Claimed He Was An Accomplished Investor
- Ichioka Promised Oversized Returns
- Ichioka Guaranteed Investors’ Principal
- Ichioka Was Unable To Pay Investors The Promised Returns
- Ichioka Used Money From New Investors To Repay Other Investors
- Ichioka Falsified A Bank Statement And Other Documents To Create An Appearance Of Success
- Ichioka Misappropriated Millions Of Investors' Funds For Personal Use
- Monique C. Winkler Said Ichioka Lured Investors By Falsely Stating That He Was A Self-Made Multimillionaire Investor Able To Generate Significant Investment Returns
- Monique C. Winkler Said The Real Story Was That Ichioka Stole Investor Funds To Enrich Himself
- Securities And Exchange Commission Charges Ichioka With Violating The Antifraud Provisions Of The Federal Securities Laws
- Ichioka Agreed To The Entry Of A Partial Final Judgment, Subject To Court Approval
- Partial Final Judgment Imposes Requested Permanent And Conduct-Based Injunctions As Well As An Officer And Director Bar
- Partial Final Judgment Reserves Issues Of Disgorgement, Prejudgment Interest, And A Civil Penalty For Further Determination By The Court
- U.S. Attorney’s Office For The Northern District Of California Announced Charges Against Ichioka
- Commodity Futures Trading Commission Announced Charges Against Ichioka
- Securities And Exchange Commission Conducted Investigation By Erin E. Wilk Of The Enforcement Division’s Crypto Assets And Cyber Unit
- Investigation Was Supervised By Jason H. Lee And Ms. Winkler Of The San Francisco Regional Office
- Securities And Exchange Commission Litigation Will Be Led By Ms. Wilk And John Han
- Securities And Exchange Commission Appreciates Assistance Of The UsaO, Cftc, The Federal Bureau Of Investigation, And The Internal Revenue Service – Criminal Investigation
PDF (from attached: complaint)
Text layers
Extracted body text (2,700c)
The Securities and Exchange Commission today charged William K. Ichioka, of New York, New York, with fraudulently raising $25 million from individual investors primarily in California and Oregon by making false claims about his investing success and promising large anticipated returns but instead using investor funds for gambling and to enrich himself. Ichioka has agreed to resolve the charges against him. According to the SEC’s complaint, filed in the United States District Court for the Northern District of California, from at least June 2019 to October 2021, Ichioka solicited investments for his unregistered investment fund, Ichioka Ventures, by claiming he was an accomplished investor, promising oversized returns, and guaranteeing investors’ principal. In reality though, as the complaint alleges, Ichioka was unable to pay investors the promised returns and used money from new investors to repay other investors. Also, as alleged in the complaint, Ichioka falsified a bank statement and other documents to create an appearance of success. Finally, according to the complaint, Ichioka also misappropriated millions of investors' funds for personal use, such as on luxury watches, cars, gambling, and a penthouse apartment. “As we allege in our complaint, Ichioka lured investors by falsely stating that he was a self-made multimillionaire investor able to generate significant investment returns, but the real story was that Ichioka stole investor funds to enrich himself,” said Monique C. Winkler, Director of the SEC’s San Francisco Regional Office. “This case highlights the SEC’s commitment to holding bad actors accountable and protecting the integrity of our markets.” The SEC’s complaint charges Ichioka with violating the antifraud provisions of the federal securities laws. Ichioka has agreed to the entry of a partial final judgment, subject to court approval, imposing requested permanent and conduct-based injunctions as well as an officer and director bar, and reserving issues of disgorgement, prejudgment interest, and a civil penalty for further determination by the court. In parallel actions, the U.S. Attorney’s Office for the Northern District of California (USAO) and Commodity Futures Trading Commission (CFTC) today also announced charges against Ichioka. The SEC’s investigation was conducted by Erin E. Wilk of the Enforcement Division’s Crypto Assets and Cyber Unit and supervised by Jason H. Lee and Ms. Winkler of the San Francisco Regional Office. The SEC’s litigation will be led by Ms. Wilk and John Han. The SEC appreciates the assistance of the USAO, CFTC, the Federal Bureau of Investigation, and the Internal Revenue Service – Criminal Investigation.
OCR text (2,700c · html-text · 99% conf)
The Securities and Exchange Commission today charged William K. Ichioka, of New York, New York, with fraudulently raising $25 million from individual investors primarily in California and Oregon by making false claims about his investing success and promising large anticipated returns but instead using investor funds for gambling and to enrich himself. Ichioka has agreed to resolve the charges against him. According to the SEC’s complaint, filed in the United States District Court for the Northern District of California, from at least June 2019 to October 2021, Ichioka solicited investments for his unregistered investment fund, Ichioka Ventures, by claiming he was an accomplished investor, promising oversized returns, and guaranteeing investors’ principal. In reality though, as the complaint alleges, Ichioka was unable to pay investors the promised returns and used money from new investors to repay other investors. Also, as alleged in the complaint, Ichioka falsified a bank statement and other documents to create an appearance of success. Finally, according to the complaint, Ichioka also misappropriated millions of investors' funds for personal use, such as on luxury watches, cars, gambling, and a penthouse apartment. “As we allege in our complaint, Ichioka lured investors by falsely stating that he was a self-made multimillionaire investor able to generate significant investment returns, but the real story was that Ichioka stole investor funds to enrich himself,” said Monique C. Winkler, Director of the SEC’s San Francisco Regional Office. “This case highlights the SEC’s commitment to holding bad actors accountable and protecting the integrity of our markets.” The SEC’s complaint charges Ichioka with violating the antifraud provisions of the federal securities laws. Ichioka has agreed to the entry of a partial final judgment, subject to court approval, imposing requested permanent and conduct-based injunctions as well as an officer and director bar, and reserving issues of disgorgement, prejudgment interest, and a civil penalty for further determination by the court. In parallel actions, the U.S. Attorney’s Office for the Northern District of California (USAO) and Commodity Futures Trading Commission (CFTC) today also announced charges against Ichioka. The SEC’s investigation was conducted by Erin E. Wilk of the Enforcement Division’s Crypto Assets and Cyber Unit and supervised by Jason H. Lee and Ms. Winkler of the San Francisco Regional Office. The SEC’s litigation will be led by Ms. Wilk and John Han. The SEC appreciates the assistance of the USAO, CFTC, the Federal Bureau of Investigation, and the Internal Revenue Service – Criminal Investigation.