SEC v. Muhammad Saad Shoukat; Gyunho Kim; Muhammad Arham Shoukat; Muhammad Shahwaiz Shoukat; Izunna Okonkwo; Daniyal Khan, et al., No. 2:25-cv-18864, District of New Jersey (Jan. 6, 2026) — Complaint
raw: SEC v. MUHAMMAD SAAD SHOUKAT
SEC v. MUHAMMAD SAAD SHOUKAT, No. 2:25-cv-18864 (Jan. 6, 2026)
Classified market-manipulation(confidence 100%). EDGAR detection: forms SC 13D/G/13F· recall 53% / precision 9%. detection rule →
Statutes
15 U.S.C. § 78j(b)15 U.S.C. § 78n(e)15 U.S.C. § 78u(d)15 U.S.C. § 78u-1 (a)15 U.S.C. § 78u-115 U.S.C. § 77t(d)15 U.S.C. § 77v(a)15 U.S.C. § 78aa(a)28 U.S.C. § 1391(c)15 U.S.C. § 77q(a)15 U.S.C. § 77o(b)15 U.S.C. § 78t(e)17 C.F.R. § 240.14e-317 C.F.R. § 240.10b-5Section 17(a) of the Securities ActSection 10(b) of the Securities Exchange ActRule 10b-5Rule 14e-3
Parties
Securities and Exchange CommissionMuhammad Shahwaiz ShoukatIzunna OkonkwoMishaal AnwarMuhammad Saad ShoukatMuhammad Arham ShoukatGozie Anthony OkonkwoGyunho KimDaniyal KhanMishal Anwar
Keywords
saadarhamopiantsaad arhamkimarham shahwaizshahwaizstockokonkwosecuritiestradingfirmaccountsglobal bloodabout
Extracted insights
Entities 7
- person Assunta Vivolo
- person ben kuruvilla
- person gyunho kim
- scheme_term ill-gotten gains of about $630,000 from market manipulation
- person joseph g. sansone
- agency Securities and Exchange Commission
- person tracy e. sivitz
Triples 15
- Joseph G. Sansone is attorney for Securities And Exchange Commission
- Assunta Vivolo is attorney for Securities And Exchange Commission
- Ben Kuruvilla is attorney for Securities And Exchange Commission
- Tracy E. Sivitz is attorney for Securities And Exchange Commission
- Securities And Exchange Commission files complaint against Muhammad Saad Shoukat, Gyunho Kim, Muhammad Arham Shoukat, Muhammad Shahwaiz Shoukat, Izunna Okonkwo, and Daniyal Khan
- Securities And Exchange Commission alleges two fraudulent market manipulation schemes and one international insider trading scheme between June 2020 and February 2024
- Muhammad Saad Shoukat and Muhammad Arham Shoukat impersonated physicians and breast cancer patients in online forums
- Muhammad Saad Shoukat and Muhammad Arham Shoukat stole confidential information about Olema Pharmaceuticals' clinical trial
- Muhammad Saad Shoukat and Muhammad Arham Shoukat published falsified clinical trial results for Olema Pharmaceuticals
- Muhammad Saad Shoukat and Muhammad Arham Shoukat sold Olema stock before accurate results were reported
- Muhammad Saad Shoukat, Muhammad Arham Shoukat, and Muhammad Shahwaiz Shoukat purchased Opiant Pharmaceuticals stock after receiving tip from Gyunho Kim
- Gyunho Kim provided material nonpublic information about corporate acquisitions to Muhammad Saad Shoukat
- Muhammad Saad Shoukat, Muhammad Arham Shoukat, and Muhammad Shahwaiz Shoukat published false press release about fictitious partnership for Opiant's lead drug
- Muhammad Saad Shoukat, Muhammad Arham Shoukat, and Muhammad Shahwaiz Shoukat realized ill-gotten gains of about $630,000 from market manipulation
- Gyunho Kim tipped Muhammad Saad Shoukat with material nonpublic information concerning nine potential corporate acquisitions
Text layers
Extracted body text (2,170c)
VII. Permanently prohibiting Kim from, directly or indirectly, acting as or being associated with any broker, dealer, or investment adviser, pursuant to Exchange Act Section 21(d)(1) and (5) [15 U.S.C. § 78u(d)(1) and (5)]; VIII. Ordering Relief Defendants Anwar and Gozie to pay, with prejudgment interest, all illgotten gains by which Anwar and Gozie were unjustly enriched, under Exchange Act Sections 21(d)(5) and 21(d)(7) [15 U.S.C. §§ 78u(d)(5) and 78u(d)(7)]; and IX. Granting any other and further relief this Court may deem just and proper. JURY DEMAND The Commission demands a trial by jury. Dated: New York, New York December 22, 2025 s/Ben Kuruvilla BEN KURUVILLA Joseph G. Sansone Assunta Vivolo Tracy Sivitz Attorneys for Plaintiff SECURITIES AND EXCHANGE COMMISSION New York Regional Office 100 Pearl Street, Suite 20-100 New York, New York 10004-2616 (212) 336-5599 (Kuruvilla) [email protected] 61 LOCAL RULE 11.2 CERTIFICATION Pursuant to Local Rule 11.2, I certify that the matter in controversy alleged against the Defendants in the foregoing Complaint is not the subject of any other civil action pending in any court, or of any pending arbitration or administrative proceeding. s/ Ben Kuruvilla BEN KURUVILLA SECURITIES AND EXCHANGE COMMISSION New York Regional Office 100 Pearl Street, Suite 20-100 New York, New York 10004-2616 (212) 336-5599(Kuruvilla) [email protected] Attorney for Plaintiff Of Counsel: Joseph G. Sansone Assunta Vivolo Tracy Sivitz DESIGNATION OF AGENT FOR SERVICE Pursuant to Local Civil Rule 101.1(f), the undersigned hereby designates the United States Attorney’s Office for the District of New Jersey to receive service of all notices or papers in this action at the following address: John Basiak United States Attorney’s Office Chief, Civil Division District of New Jersey 970 Broad Street, Suite 700 Newark, NJ 07102 s/ Ben Kuruvilla BEN KURUVILLA SECURITIES AND EXCHANGE COMMISSION New York Regional Office 100 Pearl Street, Suite 20-100 New York, New York 10004-2616 (212) 336-5599 (Kuruvilla) [email protected] Attorney for Plaintiff Of Counsel: Joseph G. Sansone Assunta Vivolo Tracy Sivitz
OCR text (2,244c · glm-ocr · 75% conf)
Case 2:22:25-cv-18864 Document 1 Filed 12/22/25 Page 61 of 63 PageID: 61 VII. Permanently prohibiting Kim from, directly or indirectly, acting as or being associated with any broker, dealer, or investment adviser, pursuant to Exchange Act Section 21(d)(1) and (5) [15 U.S.C. § 78u(d)(1) and (5)]; VIII. Ordering Relief Defendants Anwar and Gozie to pay, with prejudgment interest, all illgotten gains by which Anwar and Gozie were unjustly enriched, under Exchange Act Sections 21(d)(5) and 21(d)(7) [15 U.S.C. §§ 78u(d)(5) and 78u(d)(7)]; and IX. Granting any other and further relief this Court may deem just and proper. JURY DEMAND The Commission demands a trial by jury. Dated: New York, New York December 22, 2025 s/Ben Kuruvilla BEN KURUVILLA Joseph G. Sansone Assunta Vivolo Tracy Sivitz Attorneys for Plaintiff SECURITIES AND EXCHANGE COMMISSION New York Regional Office 100 Pearl Street, Suite 20-100 New York, New York 10004-2616 (212) 336-5599 (Kuruvilla) [email protected] 61 LOCAL RULE 11.2 CERTIFICATION Pursuant to Local Rule 11.2, I certify that the matter in controversy alleged against the Defendants in the foregoing Complaint is not the subject of any other civil action pending in any court, or of any pending arbitration or administrative proceeding. s/ Ben Kuruvilla BEN KURUVILLA SECURITIES AND EXCHANGE COMMISSION New York Regional Office 100 Pearl Street, Suite 20-100 New York, New York 10004-2616 (212) 336-5599(Kuruvilla) [email protected] Attorney for Plaintiff Of Counsel: Joseph G. Sansone Assunta Vivolo Tracy Sivitz DESIGNATION OF AGENT FOR SERVICE Pursuant to Local Civil Rule 101.1(f), the undersigned hereby designates the United States Attorney’s Office for the District of New Jersey to receive service of all notices or papers in this action at the following address: John Basiak United States Attorney’s Office Chief, Civil Division District of New Jersey 970 Broad Street, Suite 700 Newark, NJ 07102 s/ Ben Kuruvilla BEN KURUVILLA SECURITIES AND EXCHANGE COMMISSION New York Regional Office 100 Pearl Street, Suite 20-100 New York, New York 10004-2616 (212) 336-5599 (Kuruvilla) [email protected] Attorney for Plaintiff Of Counsel: Joseph G. Sansone Assunta Vivolo Tracy Sivitz