SEC v. Seth P. Levine (2021)

Settled

Checked against the primary document on October 3, 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 March 2021 the SEC charged New Jersey real estate owner Seth Levine with defrauding more than 60 investors, mostly in the Orthodox Jewish community, by selling apartment-complex interests on false profit claims and overlapping ownership, and paying some returns from a related mortgage fraud. He agreed to settle subject to court approval, with money left to the court.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-25054
Date filed	2021-03-19
Date resolved	2021-03-19
Status	settled
Criminal parallel	Yes: charged (Seth P. Levine), U.S. District Court, District of New Jersey, 2021-03-19
Defendants	Seth P. Levine (individual)
Cited as charged or alleged	Exchange Act s.10(b) and Rule 10b-5 ; Securities Act s.17(a) (statutes and rules cited in the document; not a finding that they were violated)
Techniques

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
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 SEC announced the complaint on March 19, 2021 (LR-25054) in the District of New Jersey, covering February 2015 to August 2019 and Norse Holdings, LLC. The release says Norse could not pay promised returns without new investor money or mortgage-fraud proceeds. He faces criminal charges.

The Ponzi tag is removed because the release describes a real estate offering fraud and mortgage fraud and never calls it a Ponzi scheme.

Timeline

2021-03-19 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.

Record added September 10, 2026. submit a correction.