Friday - January 30, 2026
SEC Charges Bay Area Entrepreneur and His Business Entities in Alleged Multimillion Dollar Ponzi-Like Scheme
January 30, 2026
WASHINGTON, Jan. 30 -- The Securities and Exchange Commission issued the following litigation release (No. 3:26-cv-00917; N.D. Cal. filed Jan. 29, 2026):

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Securities and Exchange Commission v. Satish Appalakutty, et al., No. 3:26-cv-00917 (N.D. Cal. filed Jan. 29, 2026)

On January 29, 2026, the Securities and Exchange Commission charged Milpitas, California resident Satish Appalakutty and his entities, Lorven Funds and Lorven Advisors LLC, alleging tha . . .

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