Overview
- In late May 2026 the SEC filed a civil complaint in the U.S. District Court for the Southern District of Texas charging Nathan Fuller with raising about $12.3 million from roughly 150 investors through Privvy Investments and the assumed name Gateway Digital Investments.
- Fuller told investors he ran proprietary AI high‑frequency trading bots that could deliver 40–50% gains in 30–45 days and in some cases more than 100% in 21 days, claims the SEC says were false and unsupported by trading records.
- According to the complaint only about $380,000, roughly 3% of investor capital, was used to buy cryptocurrency and those trades produced no profits, while investigators allege roughly $6.2 million went to Fuller’s personal expenses and about $5.5 million funded payouts to earlier investors.
- The SEC says Fuller used fabricated account statements, false licensing and insurance claims, and even an AI‑generated letter from a fake auditing firm to reassure investors and delay withdrawals, and a 2025 bankruptcy ruling denied him discharge after admitting to fabricating documents.
- The agency is seeking permanent injunctions, disgorgement with interest, civil penalties and a ban on Fuller from future securities offerings as part of a broader regulatory push to curb scams that use AI marketing to lure retail investors.