SEC v. Nadim Ahmed et al. (unregistered distributions, 2023)

Alleged — pending

These are allegations. SEC has filed an action; nothing in it has been proven, and the respondents have not been found liable. Everything described on this page is what the regulator alleges, not what a court has found. See our editorial policy.

✓ Checked against the primary document on October 4, 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 November 2023 the SEC charged New York businessman Nadim Ahmed, immigration attorney Mehreen Shah and their companies over fraud and unregistered sales in EB-5 offerings that raised over $66 million.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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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

On November 21, 2023 the SEC filed a complaint in the Southern District of New York against Nadim Ahmed, Mehreen Shah and several affiliated companies. It alleges that from 2014 to 2018 Ahmed, NuRide and NYC Green misled EB-5 investors about the operation and funding of NYC Green, and that from June 2014 to November 2022 Ahmed, Shah, her law firm and associated entities offered or sold unregistered securities, with no exemption available, in three offerings that raised over $66 million from more than 100 investors. These are allegations. The record previously listed no defendants and was titled as against unnamed respondents.

This library tags the matter as unregistered distributions, based on the conduct the document describes. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

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.

Checked on 2026-10-04: no outcome found on SEC pages. The SEC litigation-release index, which runs through LR-26664, has no later release naming these defendants.

What technique is this, and how does it work?

This action is tagged with one technique 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.

• Unregistered distributions — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2023-11-21 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. If this matter has since resolved, been withdrawn or been dismissed, we want to know: submit a correction.