SEC Charges Canadian Citizen With Fraud Schemes That Targeted Retail Investors on Discord

The Securities and Exchange Commission has charged Nathan Gauvin, a Canadian citizen, and three entities he controls with orchestrating two fraudulent securities schemes that targeted retail investors via the social media platform Discord.

Key Takeaways:

• Gauvin allegedly used Discord to promote and sell his investment opportunities, which were unregistered and lacked necessary disclosures
• The schemes reportedly raised over $10 million from at least 20 investors
• The SEC alleges that Gauvin and the entities he controls made false statements about the investments, including exaggerated claims of returns and misrepresentations of the risk involved

Risk Assessment:

Our internal system flags this development as high-risk, with a high credibility score. We advise readers to be cautious of unsolicited investment offers on social media platforms like Discord.

The SEC's charges against Gauvin and his entities highlight the need for increased vigilance in identifying and reporting potential scams targeting retail investors.

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