SEC Charges Nuclear Battery Company with Explosive Allegations of Fraud

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SEC nuclear battery fraud

The financial realm is abuzz as the U.S. Securities and Exchange Commission drops a bombshell lawsuit on a purported nuclear battery firm, unveiling an electrifying tale of deceit and misrepresentation.

The Shocking Revelation

In a suspense-filled turn of events on Thursday, the U.S. Securities and Exchange Commission (SEC) ignited a legal battle against NDB Inc., a company claiming to be at the forefront of nuclear battery tech, and its CEO, Nima Golsharifi. The core allegation? Swindling investors out of $1.2 million by presenting a faux picture of technological prowess and coveted partnerships.

Stealing the spotlight is an August 2020 press statement from NDB Inc., flaunting a “groundbreaking laboratory evolution for the world’s first self-recharging nano diamond battery.” The SEC points to the audacious claims that the battery underwent successful “proof-of-concept evaluations” at high-caliber U.S. and U.K. labs, both draped in an aura of anonymity.

The Alleged Charade

According to the SEC, the company’s grandiloquent declaration of a 40% battery charge, heralded as a revolutionary feat, was merely a mirage. Moreover, the plot thickens with the company’s bragging rights about sealing deals with two beta clients, both industry titans—one, a global behemoth in aerospace and defense manufacturing, and the other, a nuclear fuel cycle pioneer. Yet, the SEC’s investigation paints a contrasting picture: no such tests, no novel battery, and certainly, no beta clients in the roster.