Venkata S. Meenavalli has agreed to pay $400,000 in both disgorgement and penalties related to a 2017 Regulation A+ offering the SEC deemed fraudulent.
A New York court has backed charges brought by the SEC that the fintech firm committed fraud relating to its public offering and Nasdaq listing.
The SEC filed fresh fraud charges against Longfin Corp. on Wednesday, alleging the company falsified its accounting. Longfin's stock price jumped after it announced a crypto pivot in 2017.
The SEC is likely to prove that three defendants associated with fintech firm Longfin took part in the sale of unregistered securities, a judge said.