SEC v. Leon Ali Parvizian a/k/a Alex Parvizian; Arcturus Corporation; and Aschere Energy, LLC, No. LR-26269, Northern District of Texas (Mar. 17, 2025) — Press Release

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26269 / March 17, 2025 Securities and Exchange Commission v. Arcturus Corp., et al., No. 3:13-cv-04861-K (N.D. Tex. filed Dec. 12, 2013) SEC Obtains Final Judgment Against Texas Oil and Gas Promotor and His Companies in Offering Fraud Scheme On January 28, 2025, the U.S. District Court for the Northern District of Texas entered a final judgment against Defendants Leon Ali Parvizian a/k/a Alex Parvizian (“Parvizian”) and his two Dallas-based companies, Arcturus Corporation and Aschere Energy LLC (together, “the Parvizian Defendants”). The entry of the final judgment resolves all claims arising out of the SEC’s Complaint, filed on December 12, 2013, which alleged that the Parvizian Defendants defrauded investors when they raised over $22 million between 2007 and 2011 through an unregistered offering of interests in six oil and gas well drilling projects, and that Parvizian acted as an unregistered broker. The Complaint charged the Parvizian Defendants with violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 thereunder. In addition, the Complaint charged Parvizian with violations of Exchange Act Section 15(a). On October 6, 2021, the Parvizian Defendants consented, without admitting or denying the SEC’s allegations, to a partial judgment resolving liability and deferring the imposition of remedies, if any, to be determined by the Court after briefing. That same day, the Court issued the agreed partial judgment. Thereafter, on March 1, 2022, the Commission filed its Motion for Remedies (“Motion”) against the Parvizian Defendants. On January 28, 2025, the Court issued a Memorandum Opinion and Order granting the Commission’s Motion in full. In addition, the Court entered a final judgment ordering the Parvizian Defendants to pay, jointly and severally, disgorgement of $9,844,127, plus prejudgment interest thereon of $938,770.65, and civil penalties of $500,000, and imposed permanent injunctions against future violations of the antifraud, securities-registration, and broker-registration provisions of the federal securities laws identified above. The SEC’s litigation was led by Jennifer D. Reece, Chris Rogers, Jason Reinsch, and Ty Martinez, and was supervised by Keefe M. Bernstein, all of the Fort Worth Regional Office.

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26269 / March 17, 2025 Securities and Exchange Commission v. Arcturus Corp., et al., No. 3:13-cv-04861-K (N.D. Tex. filed Dec. 12, 2013) SEC Obtains Final Judgment Against Texas Oil and Gas Promotor and His Companies in Offering Fraud Scheme On January 28, 2025, the U.S. District Court for the Northern District of Texas entered a final judgment against Defendants Leon Ali Parvizian a/k/a Alex Parvizian (“Parvizian”) and his two Dallas-based companies, Arcturus Corporation and Aschere Energy LLC (together, “the Parvizian Defendants”). The entry of the final judgment resolves all claims arising out of the SEC’s Complaint, filed on December 12, 2013, which alleged that the Parvizian Defendants defrauded investors when they raised over $22 million between 2007 and 2011 through an unregistered offering of interests in six oil and gas well drilling projects, and that Parvizian acted as an unregistered broker. The Complaint charged the Parvizian Defendants with violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 thereunder. In addition, the Complaint charged Parvizian with violations of Exchange Act Section 15(a). On October 6, 2021, the Parvizian Defendants consented, without admitting or denying the SEC’s allegations, to a partial judgment resolving liability and deferring the imposition of remedies, if any, to be determined by the Court after briefing. That same day, the Court issued the agreed partial judgment. Thereafter, on March 1, 2022, the Commission filed its Motion for Remedies (“Motion”) against the Parvizian Defendants. On January 28, 2025, the Court issued a Memorandum Opinion and Order granting the Commission’s Motion in full. In addition, the Court entered a final judgment ordering the Parvizian Defendants to pay, jointly and severally, disgorgement of $9,844,127, plus prejudgment interest thereon of $938,770.65, and civil penalties of $500,000, and imposed permanent injunctions against future violations of the antifraud, securities-registration, and broker-registration provisions of the federal securities laws identified above. The SEC’s litigation was led by Jennifer D. Reece, Chris Rogers, Jason Reinsch, and Ty Martinez, and was supervised by Keefe M. Bernstein, all of the Fort Worth Regional Office.