SEC v. PTG Capital Partners LTD, et al. (sham tender offers, 2015)

Judgment entered

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The SEC's June 2015 case over false tender offers filed on EDGAR for Avon, Tower Group and Rocky Mountain Chocolate ended on 2 March 2020 in the Southern District of New York. Two entities settled and Nedko Nedev took a default judgment. Penalties total $1,470,000, with $30,479 in disgorgement and $789.44 in interest, and the SEC dropped the two named shell entities as fictitious.

The record

What was ordered

Civil penalty

$1.5m

Disgorgement

$30.5k

Prejudgment interest

$789

Total relief

$1.5m

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 development on July 10, 2015 as litigation release LR-23301, in civil action 15-CV-04290 in the Southern District of New York. The release names Nedko Nedev, Strategic Capital Partners Muster Limited and Strategic Wealth Investments, Inc.; the caption also names PTG Capital Partners LTD, and the release says there are other defendants.

The complaint, filed on June 4, 2015, alleges that the defendants posted false tender offers for Avon Products, Tower Group International and Rocky Mountain Chocolate Factory on the SEC's EDGAR database and issued a fraudulent press release, hoping to drive up prices so they could sell positions that had been losing value. This release reports a ruling on July 7, 2015: Judge Kaplan granted the SEC's preliminary injunction motion in part against the two Strategic companies, made findings against them, and continued a freeze of more than $2 million in their brokerage accounts. The temporary restraining order against Nedev was extended, with further proceedings set for September 10, 2015.

On 2 March 2020 the court approved consent judgments against Strategic Capital Partners Muster Limited ($28,079 in disgorgement, $716.59 in interest and a $500,000 penalty) and Strategic Wealth Investments, Inc. ($2,400, $72.85 and a $500,000 penalty) and entered a default judgment against Nedko Nedev with a $470,000 penalty and an injunction. Frozen brokerage balances were directed to the SEC against the Strategic judgments. The SEC had dropped the two named shells, PTG Capital Partners LTD and PST Capital Group LTD, saying they were fictitious. The totals stored here add the three judgments. The two entities settled without admitting or denying the allegations; Nedev's liability was decided on a default, not after contested proof.

For the regulator's own account of the facts, read the primary documents linked above. This page summarises the structured record and does not reproduce them.

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.

• EDGAR filing fraud — see how it works, what statute it engages, and every other action tagged the same way.
• Sham tender offers — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2015-07-10 Litigation release published
2. 2020-03-02 Judgments entered against Strategic Capital, Strategic Wealth and Nedev (S.D.N.Y.)

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
• SEC litigation release 24766
• Default judgment as to Nedko Nedev
• Final judgment as to Strategic Capital Partners Muster Limited
• Final judgment as to Strategic Wealth Investments, Inc.

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.

Same matter

The library links these 3 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

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

Record added September 20, 2026. submit a correction.