SEC v. Lottery.com, Inc., Lawrence Anthony DiMatteo, Matthew Clemenson, et al. — U.S. Securities and Exchange Commission Litigation Release No. 26464, dated January 23, 2026.
The SEC charged Lottery.com, its former CEO, two former executives, and the CEO of a SPAC with orchestrating a fraudulent scheme. They allegedly fabricated revenue through sham transactions, including a $9 million data sale and a $30 million advertising credit sale, to mislead investors and inflate the company's financials. Some defendants have already consented to judgments.
Imagine a company that wasn't making much money but wanted to look like it was. They supposedly sold customer data for $9 million, but the money just went in a circle to make it look real. Then, they claimed to sell $30 million worth of advertising space that never really happened. This made the company look much more successful than it was, tricking people who invested their money.
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.
On January 22, 2026, the SEC filed charges against Lottery.com, Inc., its former CEO Lawrence Anthony DiMatteo, former executives Matthew Clemenson and Ryan Dickinson, and Vadim Komissarov, CEO of Trident Acquisitions Corp. (a SPAC), for allegedly conducting a fraudulent scheme and making false statements in connection with a SPAC merger. The SEC's complaint alleges that Komissarov, with the participation of DiMatteo, Clemenson, and Dickinson, executed a revenue scam involving a $9 million sale of valueless customer data, which was then used to overpay for two Mexican businesses, returning the funds to their source. The complaint further alleges that DiMatteo, Clemenson, and Dickinson engaged in a second revenue scam involving a $30 million sale of advertising credits before the merger, followed by two additional bogus sales totaling over $35 million after the merger. These schemes allegedly accounted for most of Lottery.com’s purported revenue, misled investors, and caused substantial losses. The SEC charges defendants with violating Sections 17(a) of the Securities Act of 1933 and Sections 10(b) and 14(a) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14a-9 thereunder. Lottery.com is also charged with violating Section 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act, and related rules, while DiMatteo, Clemenson, and Dickinson are charged with aiding and abetting those violations and violating Section 13(b)(5) of the Exchange Act. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, civil penalties, and officer-and-director bars against Komissarov, DiMatteo, Clemenson, and Dickinson. Without admitting or denying the allegations, Clemenson and Dickinson consented to the entry of judgments, subject to court approval, permanently enjoining them from violating charged provisions, barring them from acting as officers or directors of public companies, and requiring them to pay disgorgement, prejudgment interest, and/or civil penalties to be determined by the court.
Named in this action: Lottery.com, Inc., Lawrence Anthony DiMatteo, Matthew Clemenson, Ryan Dickinson, Vadim Komissarov.