SEC v. Sumit Rai; Kim deMora; SVN Med LLC; NVS Med Inc.; Onco Filtration, Inc.; and Cancer Check Labs, LLC, No. LR-26461, District of Massachusetts (Jan. 15, 2026) — Press Release
raw: Sumit Rai; Kim deMora; SVN Med LLC; NVS Med Inc.; Onco Filtration, Inc.; Cancer Check Labs, LLC
Sumit Rai; Kim deMora; SVN Med LLC; NVS Med Inc.; Onco Filtration, Inc.; Cancer Check Labs, LLC, No. 1:26-cv-10159 (Jan. 15, 2026)
summary
Sumit Rai and his companies were charged by the SEC for misappropriating $10.6 million in investor funds intended for medical device development to cover personal debts and luxury expenses.
paragraph
The SEC charged Sumit Rai, three controlled companies, and Kim deMora for misrepresenting the use of at least $10.6 million in investor funds. Rai allegedly used the capital for personal credit card debt, luxury vehicles, and large cash withdrawals instead of medical device research. The defendants face charges for violating the Securities Act of 1933 and the Securities Exchange Act of 1934.
narrative
The SEC filed charges against Sumit Rai, three companies he controlled (SVN Med LLC, NVS Med Inc., and Onco Filtration, Inc.), and Kim deMora for a multi-million dollar fraud scheme. While claiming funds were for developing a tumor-filtering medical device, Rai allegedly misappropriated at least $10.6 million for personal credit card debt, luxury vehicles, and large cash withdrawals. Kim deMora is charged with aiding and abetting the fraud by signing false documents to secure a personal loan using investor funds as collateral. Cancer Check Labs, LLC was named as a relief defendant for receiving ill-gotten gains. The SEC is seeking permanent injunctions, disgorgement, civil penalties, and officer and director bars against the primary defendants. Rai also faces a bar from participating in the issuance or sale of securities.
Classified health-care-fraud(confidence 100%). No EDGAR filing fingerprint (criminal/DOJ-side scheme). detection rule →
Parties
Securities and Exchange CommissionSumit RaiOnco Filtration, Inc.NVS Med Inc.SVN Med LLCKim de MoraCancer Check Labs, LLCKim deMora
Keywords
raicancer checkinvestor fundsdemorasecurities exchangesvnmedllcinccancerchecksecfundsonco filtrationcheck labs
Exhibits & Attached Documents (1)
Extracted insights
Dollar amounts 5
- $10.60M $10.6 million $10M–$100M
- $5.10M $5.1 million $1M–$10M
- $2.30M $2.3 million $1M–$10M
- $1.00M $1 million $1M–$10M
- $850K $850,000 $100K–$1M
Entities 19
- person Brandon Sisson
- company Cancer Check Labs, LLC
- organization Cancer Check Labs, LLC
- person celia moore
- person fraud charges
- person john mccann
- person Kathleen Shields
- person Kim deMora
- company NVS Med Inc.
- organization NVS Med Inc.
- company Onco Filtration, Inc.
- organization Onco Filtration, Inc.
- person permanent injunctions
- agency sec's case
- agency Securities and Exchange Commission
- organization Securities and Exchange Commission
- person Sumit Rai
- company SVN Med LLC
- organization SVN Med LLC
Triples 16
- Securities And Exchange Commission Charges Five Defendants
- Sumit Rai Formed Three Companies
- Sumit Rai Controlled SVN Med LLC
- Sumit Rai Controlled NVS Med Inc.
- Sumit Rai Controlled Onco Filtration, Inc.
- Securities And Exchange Commission Announced Fraud Charges
- Sumit Rai Made Misrepresentations To Investors
- Sumit Rai Misappropriated $10.6 Million In Investor Funds
- Kim DeMora Aided Sumit Rai
- Cancer Check Labs, LLC Received Ill-Gotten Gains
- Securities And Exchange Commission Seeks Permanent Injunctions
- Securities And Exchange Commission Seeks Disgorgement With Prejudgment Interest
- Brandon Sisson Handles SEC's Case
- Kathleen Shields Handles SEC's Case
- John McCann Handles SEC's Case
- Celia Moore Handles SEC's Case
PDF (from attached: complaint)
Text layers
Extracted body text (3,024c)
U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26461/ January 15, 2026Securities and Exchange Commission v. Sumit Rai, et al., No. 1:26-cv-10159 (D. Mass. filed Jan. 15, 2026)SEC Charges Five Defendants and a Relief Defendant in connection with Alleged Multi-Million Dollar FraudToday, the Securities and Exchange Commission announced fraud charges against Texas resident Sumit Rai and three companies Rai formed and controlled (SVN Med LLC, NVS Med Inc., and Onco Filtration, Inc.), for allegedly making misrepresentations to investors and misappropriating at least $10.6 million in investor funds. Massachusetts resident Kim deMora was charged with aiding and abetting the alleged fraud and Cancer Check Labs, LLC, another company controlled by Rai, was charged as a relief defendant.According to the SEC’s complaint, Rai and his companies told investors their primary business was developing a method and device to filter “circulating tumor cells” out of a patient’s bloodstream, and made numerous statements about how investors’ funds would be used for research and development and the clinical trials necessary to obtain approval to make and sell a medical device in the United States and Europe. The complaint alleges that, in reality, Rai misappropriated at least $10.6 million of investor funds for his personal use, including to pay about $2.3 million he owed on his personal credit cards, to pay at least $1 million in unrelated debts incurred by one of his business associates, to purchase $850,000 worth of luxury vehicles for an “elite social club” he attempted to start, and to fund $5.1 million in cash withdrawals.The complaint further alleges that deMora substantially assisted in misappropriating investor funds by signing a document that deMora knew contained false representations in connection with Rai obtaining a personal loan with investor funds pledged as collateral, and acquiescing in the use of investor funds to repay Rai’s personal loan. Finally, Relief Defendant Cancer Check is alleged to have received ill-gotten gains in connection with the fraudulent scheme.The SEC’s complaint, filed in the United States District Court for the District of Massachusetts, charges Rai, SVN, NVS and Onco with 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, charges de Mora with aiding and abetting Rai’s and SVN’s fraudulent conduct and charges Cancer Check as a relief defendant. The SEC seeks permanent injunctions against the defendants; disgorgement with prejudgment interest from Rai, deMora, SVN, NVS and relief defendant Cancer Check; civil penalties and officer and director bars against Rai and deMora; and a bar against Rai from participating in the issuance, purchase, offer, or sale of any security except for certain transactions in his personal accounts.The SEC’s case is being handled by Brandon Sisson, Kathleen Shields, John McCann and Celia Moore of the SEC’s Boston Regional Office.
OCR text (3,024c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26461/ January 15, 2026Securities and Exchange Commission v. Sumit Rai, et al., No. 1:26-cv-10159 (D. Mass. filed Jan. 15, 2026)SEC Charges Five Defendants and a Relief Defendant in connection with Alleged Multi-Million Dollar FraudToday, the Securities and Exchange Commission announced fraud charges against Texas resident Sumit Rai and three companies Rai formed and controlled (SVN Med LLC, NVS Med Inc., and Onco Filtration, Inc.), for allegedly making misrepresentations to investors and misappropriating at least $10.6 million in investor funds. Massachusetts resident Kim deMora was charged with aiding and abetting the alleged fraud and Cancer Check Labs, LLC, another company controlled by Rai, was charged as a relief defendant.According to the SEC’s complaint, Rai and his companies told investors their primary business was developing a method and device to filter “circulating tumor cells” out of a patient’s bloodstream, and made numerous statements about how investors’ funds would be used for research and development and the clinical trials necessary to obtain approval to make and sell a medical device in the United States and Europe. The complaint alleges that, in reality, Rai misappropriated at least $10.6 million of investor funds for his personal use, including to pay about $2.3 million he owed on his personal credit cards, to pay at least $1 million in unrelated debts incurred by one of his business associates, to purchase $850,000 worth of luxury vehicles for an “elite social club” he attempted to start, and to fund $5.1 million in cash withdrawals.The complaint further alleges that deMora substantially assisted in misappropriating investor funds by signing a document that deMora knew contained false representations in connection with Rai obtaining a personal loan with investor funds pledged as collateral, and acquiescing in the use of investor funds to repay Rai’s personal loan. Finally, Relief Defendant Cancer Check is alleged to have received ill-gotten gains in connection with the fraudulent scheme.The SEC’s complaint, filed in the United States District Court for the District of Massachusetts, charges Rai, SVN, NVS and Onco with 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, charges de Mora with aiding and abetting Rai’s and SVN’s fraudulent conduct and charges Cancer Check as a relief defendant. The SEC seeks permanent injunctions against the defendants; disgorgement with prejudgment interest from Rai, deMora, SVN, NVS and relief defendant Cancer Check; civil penalties and officer and director bars against Rai and deMora; and a bar against Rai from participating in the issuance, purchase, offer, or sale of any security except for certain transactions in his personal accounts.The SEC’s case is being handled by Brandon Sisson, Kathleen Shields, John McCann and Celia Moore of the SEC’s Boston Regional Office.