SEC v. Airborne Wireless Network and others (pump and dump, 2025)

Judgment entered

✓ Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In 2025 the Securities and Exchange Commission announced final judgment in the Southern District of New York against Airborne Wireless Network, its undisclosed controller Kalistratos Kabilafkas, his father Timoleon Kabilafkas and two relief-defendant trusts, after a 2023 summary-judgment finding of an undisclosed-control scheme and pump and dump. The release records over $44 million in disgorgement and $12 million in prejudgment interest against Kalistratos Kabilafkas, with civil penalties of $21 million for him, $460,928 for his father and $1,152,314 for Airborne. A parallel criminal matter is referenced.

The record

What was ordered

Civil penalty

$22.6m

Disgorgement

$44m

Prejudgment interest

$12m

Total relief

$78.6m

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Securities and Exchange Commission announced this matter on February 7, 2025 as release LR-26242. The respondents named are Airborne Wireless Network and 4 others (3 individuals, 2 entities). The action was brought in the U.S. District Court, Southern District of New York.

This library tags the matter as pump and dump and undisclosed control blocks, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The conduct is recorded against equities.

The relief recorded in our data is a civil penalty total of $22,613,242 (the $21 million assessed against Kalistratos Kabilafkas plus $460,928 against Timoleon Kabilafkas and $1,152,314 against Airborne), disgorgement of $44 million and prejudgment interest of $12 million. Penalty and disgorgement are distinct: disgorgement returns the gain, while the penalty is punitive. We store them separately so that aggregate figures across the library are not double-counted.

Non-monetary relief recorded: penny stock bar.

The release references a parallel criminal proceeding. Where a criminal case exists, the civil and criminal outcomes are recorded separately, because they resolve on different standards of proof.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Pump and dump — see how it works, what statute it engages, and every other action tagged the same way.
• Undisclosed control blocks — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2025-02-07 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.