SEC v PreIPO Corp, et al

Civil Action No. 9:23-cv-81141- DMM (S.D. Fl.)

On August 14, 2023, the Securities and Exchange Commission (the “SEC”) filed a Complaint against PreIPO Corp (“PreIPO), John A. Mattera (“Mattera”), David P. Grzan (“Grzan”) (the “Defendants”), naming Boss Global Advisory Group, Inc., as a Relief Defendant. The SEC alleged that, from at least March 2022 and continuing through the filing of the Complaint, the Defendants raised at least $4.2 million from at least 50 investors through an unregistered, fraudulent securities offering of PreIPO common stock. See Complaint.

Also on August 14, 2023, the SEC filed a motion for a temporary restraining order, asset freeze, and related relief. See Motion (unsealed by later order of Court).  On August 17, 2024, the Court granted the SEC’s motion. See Order. 

On February 23, 2024 the Court entered a final judgment by consent against PreIPO, in relevant part ordering PreIPO to pay disgorgement of $2,580,342.95, prejudgment interest of $173,545.73, and a civil penalty of $500,000.00. See PreIPO judgment

Also on February 23, 2024, the Court entered a final judgment by consent against Grzan, ordering him, in relevant part, to pay disgorgement of $292,695, prejudgment interest of $19,685.72, and a civil penalty of $292,695. See Grzan judgment