SEC v. Saied Jaberian, No. LR-26288, District of Minnesota (Apr. 17, 2025) — Press Release

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26288 / April 17, 2025 Securities and Exchange Commission v. Saied Jaberian, No. 0:21-cv-01445 (D. Minn. filed June 18, 2021) SEC Wins Partial Summary Judgment Against Minnesota Individual in Pump-And-Dump Investment Scheme On April 9, 2025, Judge David S. Doty of the United States District Court for the District of Minnesota granted the SEC’s motion for partial summary judgment against Saied Jaberian of Hopkins, Minnesota in connection with an alleged pump-and-dump investment scheme. According to the SEC’s amended complaint, filed on November 1, 2021, Jaberian and two co-defendants engaged in a scheme to hijack or assume control of at least five defunct public issuers between September 2017 and April 2019, and then pump and dump the publicly traded stock of those companies as well as two other public issuers. In a parallel criminal action, filed by the United States Attorney’s Office for the District of Minnesota, Jaberian pleaded guilty to one count of criminal securities fraud and was sentenced to probation for a term of two years. In the SEC’s action, the District Court found that Jaberian violated the securities laws with respect to one public company’s stock, based on Jaberian’s guilty plea in the criminal proceeding. The Court enjoined Jaberian from future violations 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, barred him from participating in an offering of any penny stock or acting as an officer or director of a public company, and reserved the determination of financial relief, including disgorgement, prejudgment interest or civil penalties, for a later date. The SEC is represented in this case by Alyssa A. Qualls, Robert M. Moye, and Raven A. Winters.

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26288 / April 17, 2025 Securities and Exchange Commission v. Saied Jaberian, No. 0:21-cv-01445 (D. Minn. filed June 18, 2021) SEC Wins Partial Summary Judgment Against Minnesota Individual in Pump-And-Dump Investment Scheme On April 9, 2025, Judge David S. Doty of the United States District Court for the District of Minnesota granted the SEC’s motion for partial summary judgment against Saied Jaberian of Hopkins, Minnesota in connection with an alleged pump-and-dump investment scheme. According to the SEC’s amended complaint, filed on November 1, 2021, Jaberian and two co-defendants engaged in a scheme to hijack or assume control of at least five defunct public issuers between September 2017 and April 2019, and then pump and dump the publicly traded stock of those companies as well as two other public issuers. In a parallel criminal action, filed by the United States Attorney’s Office for the District of Minnesota, Jaberian pleaded guilty to one count of criminal securities fraud and was sentenced to probation for a term of two years. In the SEC’s action, the District Court found that Jaberian violated the securities laws with respect to one public company’s stock, based on Jaberian’s guilty plea in the criminal proceeding. The Court enjoined Jaberian from future violations 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, barred him from participating in an offering of any penny stock or acting as an officer or director of a public company, and reserved the determination of financial relief, including disgorgement, prejudgment interest or civil penalties, for a later date. The SEC is represented in this case by Alyssa A. Qualls, Robert M. Moye, and Raven A. Winters.