SEC settles case with fraudulent entrepreneur

Commission claims Benedict Van lied to potential investors

The Securities and Exchange Commission (SEC) said it has settled its suit against an entrepreneur who raised millions of dollars by making false claims about his businesses to investors.

Benedict Van made “serial misrepresentations” to many inexperienced investors, the SEC said in its complaint. "Van played on the hopes of investors, tricking them into believing that his companies were on the verge of becoming the next Silicon Valley success stories," Marc Fagel, director of the SEC's San Francisco regional office, said in a press release.


Cathleen Flahardy

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