Imposter Steals $1.5M, Buys Crypto, Loses All!

SEC v. Adam B. Rundle — U.S. Securities and Exchange Commission Litigation Release No. 26637, dated September 11, 2026.

The SEC charged Adam B. Rundle with an alleged $1.5 million offering fraud. Rundle impersonated a licensed securities professional and falsely promised guaranteed principal and a 4% annual return on an investment in his company, Robinvest, LLC. Instead, he misappropriated all investor funds, reportedly using them to buy cryptocurrency and losing it all.

In Plain English

Imagine someone pretended to be a trusted financial advisor. They told you they could invest your money in a special deal that would give you your money back plus a guaranteed profit. But instead of investing it, they took all your money and gambled it away on something like cryptocurrency. That's what this case is about.

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. Impersonation and False Promises From at least November 2021 to January 2024, Adam B. Rundle allegedly posed as a licensed securities professional. He induced an investor to purchase a purported Simple Agreement for Future Equity (SAFE) in his company, Robinvest, LLC.
2. Guaranteed Investment and Return Rundle made material misrepresentations to the investor. He falsely represented that the investor would be purchasing a SAFE that guaranteed the principal investment and a return of 4% compounded annually.
3. Misappropriation of Funds Contrary to his promises, Rundle did not invest the funds as promised. Instead, he misappropriated the entirety of the investor's approximately $1.5 million.
4. Loss of Funds According to the complaint, Rundle admitted to former business partners that he had stolen the money from the customer. He further admitted to using the funds to buy cryptocurrency and subsequently losing all of the money.

The Enforcement Action

On September 10, 2026, the SEC filed charges against Adam B. Rundle in the U.S. District Court for the District of Maryland for engaging in an alleged offering fraud. The SEC alleges Rundle raised approximately $1.5 million by stealing the identity of a licensed securities professional and making material misrepresentations to induce an investor to purchase a security in the form of a purported Simple Agreement for Future Equity (“SAFE”) in Robinvest, LLC. The complaint charges Rundle with violating antifraud provisions of the Securities Act of 1933 and the Exchange Act of 1934. The SEC seeks injunctive relief, civil penalties, and disgorgement with prejudgment interest.

Named in this action: Adam B. Rundle.

Original SEC litigation release ↗ · Browse all cases