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February 24, 2023

Posted  February 24, 2023

Energy & Environmental Investments, LLC (“EEI”) and Energy & Environment, Inc. (“E&E”) have agreed to pay $3.4 million in disgorgement, nearly $1 million in prejudgment interest, and over $1 million in civil monetary penalty to settle SEC charges of conducting a fraudulent securities offering.  A parallel criminal case was filed in California Superior Court in 2021 against EEU’s CEO, Amir Sardari, and former Vice President of Investor Relations, Narysa Luddy, which both have pleaded guilty to.  According to the SEC, EEI employed high-pressure tactics to solicit investments, then misappropriated about 47% of the $9.3 million raised from over 200 investors to cover payroll, marketing, Luddy’s personal expenses, and payments to prior investors.  SEC

Tagged in: Criminal Proceedings, Financial and Investment Fraud, Ponzi Schemes,