SEC v. NDB, Inc., Nima Golsharifi — U.S. Securities and Exchange Commission Litigation Release No. 26323, dated June 11, 2025.
The SEC charged NDB, Inc. and its CEO, Nima Golsharifi, with defrauding investors by making false claims in a press release about their nuclear-based battery technology. They falsely stated successful tests and customer acquisitions, raising over $1.2 million. Both defendants consented to final judgments, including civil penalties and bars against Golsharifi from participating in securities offerings.
Imagine a company claimed they had a super-cool new battery and even showed off fake test results and made-up customers to get people to give them money. That's what happened here. The company and its boss told investors their battery was tested and ready, but it wasn't true. Because they lied to get over $1.2 million, they had to pay fines and the boss is banned from selling investments for a while.
Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.
SEC Obtains Final Judgments Against NDB, Inc. and Nima Golsharifi for Fraudulent Statements in Press Release. On June 9, 2025, the U.S. District Court for the Northern District of California entered final judgments against defendants NDB, Inc. and its CEO, Nima Golsharifi. The SEC charged them with conducting an offering fraud by making materially false and misleading statements in a company press release. The SEC’s complaint, filed on September 14, 2023, alleged that NDB and Golsharifi raised over $1.2 million from investors after falsely claiming in an August 25, 2020 press release that NDB had successfully tested its battery technology at two preeminent laboratories and had signed its first two beta customers. The SEC alleged these claims were false because NDB had not tested its technology at either laboratory and had not signed any beta customers. Without admitting or denying the allegations, NDB and Golsharifi consented to final judgments permanently enjoining them from violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The final judgments order NDB to pay a $200,000 civil penalty and Golsharifi to pay a $100,000 civil penalty. Golsharifi is also barred from acting as an officer or director of a public company for two years and prohibited from participating in the issuance, purchase, offer, or sale of any security for two years, other than for his personal accounts.
Named in this action: NDB, Inc., Nima Golsharifi.