SEC v. PTG Capital Partners LTD, et al. (sham tender offers, 2016)

Judgment entered

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In 2015 and 2016 the SEC pursued PTG Capital Partners, Nedko Nedev and related companies over false tender offers filed on EDGAR to move stock prices. On March 2, 2020 a New York federal court entered settled judgments against two companies and a default judgment against Nedev, with $1.47 million in penalties; the SEC dismissed the two other entities.

The record

What was ordered

Civil penalty

$1.5m

Disgorgement

—

Prejudgment interest

—

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 March 11, 2016 as litigation release LR-23486, 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 release reports that a Manhattan federal grand jury returned an eight-count indictment against Nedev, who was arrested in Bulgaria the previous day. The indictment, brought by the U.S. Attorney's Office, alleges a scheme to manipulate the stocks of Avon and Rocky Mountain Chocolate Factory and to profit from trading in Tower Group stock. The SEC's civil complaint of June 4, 2015 alleges the defendants filed false tender offers on EDGAR and issued a fraudulent press release to lift those prices. The court had issued preliminary injunctions against the two Strategic companies on July 7, 2015 and against Nedev on September 16, 2015, with over $2 million in assets frozen.

For the regulator's own account of the facts, read the primary document linked above.

SEC release 24766 reports that on March 2, 2020 the Southern District of New York approved settlements with Strategic Capital Partners Muster Limited and Strategic Wealth Investments, Inc., which agreed without admitting or denying the allegations to injunctions, disgorgement and interest totalling about $31,270, and combined civil penalties of $1,000,000, and granted the SEC's motion for default judgment against Nedko Nedev, enjoining him and imposing a $470,000 penalty. The SEC dismissed the remaining defendants, PTG Capital Partners LTD and PST Capital Group LTD, as fictitious entities used in the fraud. The penalty field adds the $1,000,000 and $470,000 figures; the combined disgorgement and interest figure is not split and is left out of the fields. Nedev's judgment was by default, so he did not contest it. Checked on 2026-10-04.

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. 2016-03-11 Litigation release published
2. 2020-03-02 Settlements approved and default judgment against Nedev (SEC LR-24766)

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 (judgments)

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.