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SEC DROPS CASE! Nader Al-Naji and Associates CLEARED of All Charges!

  
March 12, 2026


  
  

    

      
      

    

  




  



        


U.S. Securities and Exchange Commission Litigation Release No. 26499, dated March 12, 2026.


The SEC announced the dismissal of its civil enforcement action against Nader Al-Naji and several relief defendants. The dismissal, filed as a joint stipulation, was based on the specific facts and circumstances of the case and does not set a precedent for other cases.




In Plain English
The SEC decided to stop its lawsuit against Nader Al-Naji and others. They agreed together to close the case. This decision was made because of the unique situation in this particular lawsuit.
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. SEC Files Civil Enforcement Action The Securities and Exchange Commission (SEC) initiated a civil enforcement action against Nader Al-Naji and several relief defendants, including Buse Desticioğlu Al-Naji, Joumana Bahouth Al-Naji, Intangible Holdings, LLC, Firestorm Media, LLC, Viridian City, LLC, and DeSo Foundation. This action was filed in the U.S. District Court for the Southern District of New York under Case No. 1:24-cv-05738-JAV.
  2. Joint Stipulation for Dismissal On March 12, 2026, the SEC, along with Defendant Nader Al-Naji and the Relief Defendants, filed a joint stipulation to dismiss the case. This indicates an agreement between all parties involved to end the litigation.
  3. Dismissal with Prejudice The joint stipulation sought the dismissal of the Commission's civil enforcement action 'with prejudice.' This means the case cannot be refiled or brought again in the future, effectively ending the SEC's claims against the named parties.
  4. Basis for Dismissal The SEC's decision to seek dismissal was based on the 'particular facts and circumstances of this case.' The filing explicitly states that this decision 'does not necessarily reflect the Commission’s position on any other case,' highlighting the unique nature of this situation.


The Enforcement Action
The SEC announced the dismissal of its civil enforcement action against Nader Al-Naji and relief defendants Buse Desticioğlu Al-Naji, Joumana Bahouth Al-Naji, Intangible Holdings, LLC, Firestorm Media, LLC, Viridian City, LLC, and DeSo Foundation. The dismissal, filed as a joint stipulation in Case No. 1:24-cv-05738-JAV in the S.D.N.Y. on March 12, 2026, was with prejudice and based on the specific facts and circumstances of the case.


Original SEC litigation release ↗ · Browse all cases