The U.S. Securities and Exchange Commission charged Texas resident Nathan Fuller on May 29, 2026, with operating an alleged crypto fraud scheme. The SEC alleges Fuller raised approximately $12.3 million from about 150 investors through Privvy Investments, LLC and Gateway Digital Investments between at least October 2022 and mid-2024, promising extraordinary returns via AI-driven trading technology. The charges represent regulatory enforcement targeting fraudulent crypto investment schemes.
Fuller Allegedly Promised 100% Returns in 21 Days via AI Trading Bots
According to the SEC litigation release filed May 29, 2026, Fuller allegedly solicited investors with claims that "proprietary AI-based trading bots" would conduct high-frequency arbitrage trading in crypto markets. The complaint states Fuller claimed investors could see returns of 40–50% within 30 to 45 days, with "guaranteed profits exceeding 100% in as little as 21 days."
The SEC alleges those representations were false or misleading, and that Fuller's trading systems "did not function as represented." The complaint further alleges Fuller reinforced the scheme by distributing fake account statements and fabricated correspondence from fictitious entities, along with false assurances that investor funds were secured or insured.
SEC Alleges $6.2 Million Used for Personal Expenses, $5.5 Million for Ponzi Payments
The SEC claims Fuller misappropriated investor funds, using at least $6.2 million for personal expenses and approximately $5.5 million to make Ponzi-like payments to earlier investors in order to sustain the appearance of profitability. The alleged scheme operated through Privvy Investments, LLC and related names including Gateway Digital Investments between at least October 2022 and mid-2024.
SEC Charges Fuller with Securities Act and Exchange Act Violations
The SEC's complaint charges Fuller 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 and Rule 10b-5. The agency is seeking permanent injunctions, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties.
FAQ
What did the SEC charge Nathan Fuller with on May 29, 2026?
The SEC charged Nathan Fuller with operating an alleged crypto asset fraud scheme that raised approximately $12.3 million from about 150 investors through Privvy Investments, LLC and Gateway Digital Investments between at least October 2022 and mid-2024.
How much investor money did Fuller allegedly misappropriate?
The SEC alleges Fuller used at least $6.2 million for personal expenses and approximately $5.5 million to make Ponzi-like payments to earlier investors.
What returns did Fuller allegedly promise investors?
According to the SEC complaint, Fuller allegedly claimed investors could see returns of 40–50% within 30 to 45 days, with "guaranteed profits exceeding 100% in as little as 21 days" through proprietary AI-based trading bots.
