SEC v. Rahim Mohamed, Davies ("Dave") Wong, et al. (hijacked account ramping, 2022)

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 2022, the Securities and Exchange Commission brought an action against Rahim Mohamed and 17 others, alleging conduct this library classifies as hijacked account ramping. No monetary relief has been recorded at this stage; the matter is an allegation and remains unproven. Consent final judgments were entered on February 2, 2024 against three of the eighteen defendants; no outcome for the lead defendants was found.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-25469
Date filed	2022-08-15
Court	U.S. District Court, Northern District of Georgia
Status	filed
Asset class	equities
Criminal parallel	No
Defendants	Rahim Mohamed (individual) ; Davies ("Dave") Wong (individual) ; Glenn B. Laken (individual) ; Richard C.S. Tang (individual) ; Zoltan Nagy (individual) ; Jeffrey D. Cox (individual) ; Phillip G. Sewell (individual) ; Breanne M. Wong (individual) ; Christophe Merani (individual) ; Anna Tang (individual) ; Robert W. Seeley (individual) ; Richard B. Smith (individual) ; Christopher R. Smith (individual) ; H.E. Capital SA (entity) ; POP Holdings Ltd. (entity) ; Maximum Ventures Holdings LLC (entity) ; Harmony Ridge Corp. (entity) ; Avatele Group LLC (entity)
Cited as charged or alleged	Exchange Act s.10(b) and Rule 10b-5 ; Exchange Act s.13(d) and 13(g) ; Exchange Act s.16(a) ; Securities Act s.17(a) (statutes and rules cited in the document; not a finding that they were violated)
Techniques	Hijacked-account ramping

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
Alleged gain: $1m

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 filed this matter on August 15, 2022; the release announcing it is dated August 16, 2022 (release LR-25469). The respondents named are Rahim Mohamed and 17 others (13 individuals, 5 entities). The action was brought in the U.S. District Court, Northern District of Georgia.

This library tags the matter as hijacked account ramping, 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.

Partial outcome. In N.D. Ga. No. 1:22-cv-03252, final judgments dated February 2, 2024 were entered, on consent, against three of the defendants: Robert Seeley (disgorgement $85,000, interest $25,319.65, penalty $85,000), Richard Smith with H.E. Capital SA (disgorgement $27,630.63 joint, interest $8,230.55, penalty $27,630.63 each) and Christopher Smith (disgorgement $28,676.90, interest $8,542.23, penalty $28,676.90 each), each with a penny stock bar. I found no outcome for Rahim Mohamed, Davies Wong or the other defendants, so the record stays at filed; checked on 2026-10-04: no outcome for the lead defendants found on SEC pages.

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.

Hijacked-account ramping — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

2022-08-15 Complaint filed (N.D. Ga., No. 1:22-cv-03252)
2024-02-02 Consent final judgments entered as to Seeley, R. Smith, H.E. Capital and C. Smith

Primary documents

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

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.

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

Action	Agency	Filed	Technique	Penalty	Status
SEC v. Dmitrii Yevgenyevich Kushnarev (hijacked account ramping, 2025)	SEC	2025-09-24	Hijacked Account Ramping	—	filed
SEC v. Joseph P. Willner (hijacked account ramping, 2017)	SEC	2017-10-30	Hijacked Account Ramping	—	judgment
SEC v. Idris D. Mustapha (hijacked account ramping, 2016)	SEC	2016-06-22	Hijacked Account Ramping	—	filed

Record added September 20, 2026. If this matter has since resolved, been withdrawn or been dismissed, we want to know: submit a correction.