Private Jet for Billionaires, UHNWs
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.







United States SEC Charged Venture Capital Firm Vika Ventures & Founders for Fraud, Sold $6 Million of Highly Sought-After IPO Securities to 46 Investors & Spent Millions on Private Jets, Expensive Watches & Lavish Travel

8th December 2022 | Hong Kong

The United States Securities & Exchange Commission (SEC) has charged venture capital firm Vika Ventures and founders (CEO George Iakovou, Penelope Zbravos – who is then-girlfriend of CEO) for fraud, selling $6 million of highly sought-after IPO securities to 46 investors without having the securities or intention to acquire the securities and spent millions on private jets, expensive watches & lavish travel.  United States SEC: “The SEC’s complaint alleges that, between late 2019 and 2021, Iakovou and Vika Ventures offered to sell investors shares of private companies that might hold an initial public offering. However, as set forth in the SEC’s complaint, Iakovou and Vika Ventures did not own the shares at the time of the solicitations and never acquired them. Rather than purchasing the securities, Iakovou allegedly used investor funds for himself. As CEO of Vika Ventures, Iakovou allegedly used fraudulent documentation and statements to convince investors that Vika Ventures was a successful venture capital firm. According to the SEC’s complaint, Zbravos, Iakovou’s then-girlfriend, encountered but failed to act upon sufficient red flags regarding the company’s operations to make her a negligent participant in the scheme.” Carolyn M. Welshhans, Associate Director of the SEC Enforcement Division: “Iakovou and Vika Ventures allegedly operated a straightforward fraud on investors by offering to sell them securities in highly sought-after pre-IPO companies without ever intending to buy any shares on behalf of the investors. Instead, Iakovou allegedly spent millions of dollars on private jets, expensive watches, and lavish travel.  This case underscores our commitment to pursuing those that prey on investors by using fake company profiles, misleading websites, and false promises of lucrative pricing of securities.”

“ United States SEC Charged Venture Capital Firm Vika Ventures & Founders for Fraud, Sold $6 Million of Highly Sought-After IPO Securities to 46 Investors & Spent Millions on Private Jets, Expensive Watches & Lavish Travel “

 

- Article continues below -
Web links may be disabled on mobile for security.
Please click on desktop.





The 2023 Investment Day | HK & SG
Where do you invest $250k, $1 million, $10 million, $100 million or $1 billion? Can you generate IRR of 10% / 15% / 20% or more? Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 28th March 2023 in Hong Kong, 4th April 2023 in Singapore, and Virtual Investment Day in April 2023.
Visit | Register here





United States SEC Charges Vika Ventures and its CEO in $6 Million Fraudulent Offering

Private Jet for Billionaires, UHNWs

7th Dec 2022 – The Securities and Exchange Commission today charged venture capital firm Vika Ventures LLC and its CEO and co-founder, George Iakovou, with fraudulently offering and selling more than $6 million of securities to at least 46 individual investors in multiple states including California, Georgia, and New York. The SEC also announced settled charges against Vika Ventures’ other co-founder, Penelope Zbravos, for her role in the scheme.

The SEC’s complaint alleges that, between late 2019 and 2021, Iakovou and Vika Ventures offered to sell investors shares of private companies that might hold an initial public offering. However, as set forth in the SEC’s complaint, Iakovou and Vika Ventures did not own the shares at the time of the solicitations and never acquired them. Rather than purchasing the securities, Iakovou allegedly used investor funds for himself. As CEO of Vika Ventures, Iakovou allegedly used fraudulent documentation and statements to convince investors that Vika Ventures was a successful venture capital firm. According to the SEC’s complaint, Zbravos, Iakovou’s then-girlfriend, encountered but failed to act upon sufficient red flags regarding the company’s operations to make her a negligent participant in the scheme.

“Iakovou and Vika Ventures allegedly operated a straightforward fraud on investors by offering to sell them securities in highly sought-after pre-IPO companies without ever intending to buy any shares on behalf of the investors. Instead, Iakovou allegedly spent millions of dollars on private jets, expensive watches, and lavish travel,” said Carolyn M. Welshhans, Associate Director of the SEC Enforcement Division. “This case underscores our commitment to pursuing those that prey on investors by using fake company profiles, misleading websites, and false promises of lucrative pricing of securities.”

The complaint, filed in the United States District Court for the Middle District of Georgia, charges Iakovou, Vika Ventures, and Zbravos with violating the antifraud provisions of the federal securities laws. The SEC seeks permanent injunctive relief, disgorgement with prejudgment interest, and civil penalties against Iakovou and Zbravos. The complaint seeks permanent injunctive relief and a civil penalty against Vika Ventures.

Without admitting or denying the allegations, Zbravos has agreed to a permanent injunction from future violations and to pay disgorgement, prejudgment interest, and a civil penalty, as determined by the district court. The settlement is subject to the approval of the district court.

In a parallel action, the U.S. Attorney’s Office for the Middle District of Georgia today announced the filing of related criminal charges.

The SEC’s investigation was conducted by Allison M. Rochford and Michelle I. Bougdanos and was supervised by David Frohlich and Ms. Welshhans. The litigation will be led by James Carlson. The SEC appreciates the assistance of the U.S. Attorney’s Office for the Middle District of Georgia and the United States Secret Service, Albany, Georgia Office.




Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below








Caproasia Users

  • Manage $20 million to $3 billion of assets
  • Invest $3 million to $300 million
  • Advise institutions, billionaires, UHNWs & HNWs

Caproasia Platforms | 10,000 Investors & Advisors

Monthly Roundtable & Networking

Family Office Programs

The 2023 Investment Day

  • 28th March 2023 - Hong Kong
  • 4th April 2023 - Singapore
  • April 2023 - Virtual
  • Sept 2023 - Hong Kong
  • Oct 2023 - Singapore
  • Oct 2023 - Hong Kong
  • Visit: The Investment Day | Register: Click here

Caproasia Summits

Contact Us

For Enquiries, Membership
mail@caproasia.com, angel@caproasia.com

For Listing, Subscription
mail@caproasia.com, claire@caproasia.com

For Press Release, send to:
press@caproasia.com

For Events & Webinars
events@caproasia.com

For Media Kit, Advertising, Sponsorships, Partnerships
angel@caproasia.com

For Research, Data, Surveys, Reports
research@caproasia.com

For General Enquiries
mail@caproasia.com





Make Better Business & Investment Decisions



For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    Professional InvestorInstitutional InvestorFamily OfficeAdvisorFinancial ProfessionalExecutiveOthers


    Mailing ListFree TrialSubscription YearlySubscription MonthlyMembershipEvents


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights











    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014


    Web links may be disabled on mobile for security.
    Please click on desktop.






    Previous articleUK Regulator FCA Provides Guidance to Banks & Lenders to Support Existing Property Loans Borrowers, Including Options for Reduced Monthly Payment & Interest Only Payment
    Next article$120 Billion Private Equity Thoma Bravo Raised Record $32.4 Billion in Technology Buyout Funds, Invested in More than 400 Technology Companies Including McAfee, Qlik & FTX
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia