The SEC claims that Sichenzio and Gil de Rubio were either aware of or recklessly disregarded the misappropriation and misuse of funds.
All in all, Laura, Sichenzio and Gil de Rubio are alleged to have raised more than $12 million from more than 150 investors since 2010, but have failed to generate any revenue for their investors.
In the SEC’s action, the defendants are accused of committing fraudulent acts in violation of the Securities Act and the Exchange Act. The commission is seeking injunctions preventing further violations, disgorgement of ill-gotten gains plus interest, and civil penalities.