FRAUDSTER SCAMMED MILLIONS FOR SUPER BOWL, CARIBBEAN WEDDING!

SEC v. Shiloh Luckey — U.S. Securities and Exchange Commission Litigation Release No. 26424, dated November 21, 2025.

The SEC charged Shiloh Luckey, founder of ComplYant App, Inc., with defrauding investors out of over $13 million. Luckey allegedly lied about the company's revenue, subscriber growth, and her own qualifications as a CPA. She is accused of using investor funds for personal expenses, including a home, Super Bowl tickets, and a destination wedding.

In Plain English

Imagine someone started a company to help small businesses with their taxes. They told investors the company was doing great, making lots of money and getting tons of new customers every month. But in reality, the company was barely making any money and had very few customers. The person also pretended to be a certified tax expert when they weren't. They even used the money from investors to buy a house, go on fancy trips, and pay for a wedding. Now, the government is taking them to court to get the money back and stop them from doing this again.

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.

How the Alleged Scheme Worked

1. Founding ComplYant App Shiloh Luckey founded ComplYant App, Inc., a technology startup offering an online tax management platform for small to medium businesses. She served as the founder and CEO.
2. Misrepresenting Business Success Between 2020 and 2023, Luckey allegedly told investors that ComplYant's monthly revenues grew dramatically, from around $2,500 in November 2020 to over $250,000 by September 2022. She also claimed the company was acquiring dozens or hundreds of new paying subscribers each month.
3. Fabricating Financials In reality, ComplYant generated an average of only about $250 in monthly revenue during the same period and averaged fewer than four new subscribers each month. The company struggled to retain its few existing customers.
4. False Claims of Expertise Luckey misrepresented herself to investors as a licensed Certified Public Accountant (CPA), implying deep expertise in tax management and accounting compliance to bolster investor confidence.
5. Personal Enrichment On top of her salary, Luckey allegedly spent at least $2.2 million of investor funds for her personal benefit. This included purchasing a home, funding a destination wedding in the Caribbean, and buying Super Bowl tickets.
6. Continued Fundraising Amidst Collapse Despite the company's dire financial state, Luckey continued to raise funds, securing $750,000 from two new investors in June and September 2023.
7. Company Ceases Operations The fraudulent scheme collapsed in mid-September 2023 when ComplYant App ran out of cash and abruptly ceased operations.

The Enforcement Action

The SEC filed charges against Shiloh Luckey for allegedly fraudulently raising over $13 million. The SEC seeks permanent injunctions, an officer-and-director bar, disgorgement with prejudgment interest, and civil penalties.

Named in this action: Shiloh Luckey.

Original SEC litigation release ↗ · Browse all cases