SEC v. Norman V. Meier; Treuhand, Inc.; Windeco Corporation; Texxon Oil Corp.; and International Financial Services, Inc., No. LR-26273, District of Massachusetts (Mar. 20, 2025) — Press Release

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26273 / March 20, 2025 Securities and Exchange Commission v. Norman V. Meier, No. 1:24-cv-12602 (D. Mass. filed Oct. 11, 2024) SEC Obtains Final Judgment Against Massachusetts Resident in Multi-Million Dollar Securities Fraud On March 13, 2025, the U.S. District Court for the District of Massachusetts entered final judgment against Norman V. Meier in the SEC’s action alleging that Meier orchestrated a years-long, multi-million-dollar international securities fraud. The SEC’s complaint, filed on October 11, 2024, alleged that Meier carried out a securities fraud involving the offer and sale of several stocks to unsuspecting investors in both Europe and the United States. The complaint alleged that, from June 2015 to December 2023, Meier received at least $7.9 million from over 180 European investors and three U.S. investors. The SEC alleged that Meier engaged teams of cold-callers in Europe who used fake names and solicited investments in companies created by Meier for purposes of defrauding investors, as well as soliciting investments in well-known companies to which Meier and his teams of cold-callers had no real connection. The SEC further alleged that Meier’s victims wired funds to bank accounts in the United States that Meier controlled. As alleged, rather than investing funds as promised, Meier misappropriated money for his own use and to pay his overseas sales network to lure additional investors. The complaint named as relief defendants companies controlled by Meier that allegedly received investor funds, including: Treuhand, Inc., Windeco Corporation, Texxon Oil Corp., and International Financial Services, Inc., a/k/a IFS, Inc., a/k/a IFS, Inc. d/b/a IRM, Inc. The court entered judgments by default against Meier, Treuhand, Windeco, Texxon, and International Financial Services. The court enjoined Meier from further violations of the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities and Exchange Act and Rule 10b-5 thereunder. The court also imposed a conduct-based injunction and an officer and director bar upon Meier. The judgment against Meier orders him to pay a total of $5,047,515 for disgorgement, prejudgment interest, and civil penalties. The court ordered Treuhand to pay disgorgement of $3,832,048 and prejudgment interest of $423,145, Windeco to pay disgorgement of $174,279 and prejudgment interest of $35,090, Texxon to pay disgorgement of $978,151 and prejudgment interest of $304,573, and International Financial Services to pay disgorgement of $690,328 and prejudgment interest of $334,244. The SEC’s investigation was conducted by William J. Donahue, Kerry Dakin and Rory J. Alex, and supervised by Colin D. Forbes of the SEC’s Boston Regional Office. The SEC’s litigation was conducted by Michael C. Moran also of the Boston Regional Office.

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26273 / March 20, 2025 Securities and Exchange Commission v. Norman V. Meier, No. 1:24-cv-12602 (D. Mass. filed Oct. 11, 2024) SEC Obtains Final Judgment Against Massachusetts Resident in Multi-Million Dollar Securities Fraud On March 13, 2025, the U.S. District Court for the District of Massachusetts entered final judgment against Norman V. Meier in the SEC’s action alleging that Meier orchestrated a years-long, multi-million-dollar international securities fraud. The SEC’s complaint, filed on October 11, 2024, alleged that Meier carried out a securities fraud involving the offer and sale of several stocks to unsuspecting investors in both Europe and the United States. The complaint alleged that, from June 2015 to December 2023, Meier received at least $7.9 million from over 180 European investors and three U.S. investors. The SEC alleged that Meier engaged teams of cold-callers in Europe who used fake names and solicited investments in companies created by Meier for purposes of defrauding investors, as well as soliciting investments in well-known companies to which Meier and his teams of cold-callers had no real connection. The SEC further alleged that Meier’s victims wired funds to bank accounts in the United States that Meier controlled. As alleged, rather than investing funds as promised, Meier misappropriated money for his own use and to pay his overseas sales network to lure additional investors. The complaint named as relief defendants companies controlled by Meier that allegedly received investor funds, including: Treuhand, Inc., Windeco Corporation, Texxon Oil Corp., and International Financial Services, Inc., a/k/a IFS, Inc., a/k/a IFS, Inc. d/b/a IRM, Inc. The court entered judgments by default against Meier, Treuhand, Windeco, Texxon, and International Financial Services. The court enjoined Meier from further violations of the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities and Exchange Act and Rule 10b-5 thereunder. The court also imposed a conduct-based injunction and an officer and director bar upon Meier. The judgment against Meier orders him to pay a total of $5,047,515 for disgorgement, prejudgment interest, and civil penalties. The court ordered Treuhand to pay disgorgement of $3,832,048 and prejudgment interest of $423,145, Windeco to pay disgorgement of $174,279 and prejudgment interest of $35,090, Texxon to pay disgorgement of $978,151 and prejudgment interest of $304,573, and International Financial Services to pay disgorgement of $690,328 and prejudgment interest of $334,244. The SEC’s investigation was conducted by William J. Donahue, Kerry Dakin and Rory J. Alex, and supervised by Colin D. Forbes of the SEC’s Boston Regional Office. The SEC’s litigation was conducted by Michael C. Moran also of the Boston Regional Office.