SEC v. Simon Piers Thurlow, Roger Fidler and others (reverse merger schemes, 2021)

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 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 September 2021 the SEC sued Simon Thurlow, attorney Roger Fidler and others in New York over Dolat Ventures, alleging a 2016 reverse merger with a Chinese electric-car company followed by backdated documents that let convertible-debt shares be sold unregistered for about $5.7 million. A separate settled order against an attorney who wrote opinion letters carried $3,150 in disgorgement.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-25207
Date filed	2021-09-15
Date resolved	2021-09-15
Status	filed
Criminal parallel	No
Bars imposed	penny stock bar
Defendants	Simon Piers Thurlow (individual) ; Roger Leon Fidler (individual) ; Richard Oravec (individual) ; Bradley Fidler (individual) ; Bryce Emory Boucher (individual) ; Joseph D. Jordan (individual) ; Western Bankers Capital Inc. (entity)
Cited as charged or alleged	Exchange Act s.10(b) and Rule 10b-5 ; Securities Act s.17(a) ; Securities Act s.5 (statutes and rules cited in the document; not a finding that they were violated)
Techniques	Reverse merger schemes

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
Alleged gain: $5.7m

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 on September 15, 2021 (litigation release 25207) a complaint filed in the Southern District of New York against Thurlow, Roger Fidler, Oravec, Bradley Fidler, Boucher, Joseph Jordan and Jordan's company Western Bankers Capital.

The SEC alleges that in 2016 Roger Fidler, Thurlow and Oravec engineered a reverse merger between Dolat Ventures and a Chinese company said to make electric cars and batteries, then created false and backdated documents to make it look as if shares could be sold to the public without registration. Between March and December 2017 associates bought tranches of the convertible debt, converted it to shares and sold them, with proceeds of about $5.7 million, and the defendants allegedly gave attorneys false information to obtain opinion letters. It charges fraud and Sections 5(a) and 5(c) and seeks injunctions, disgorgement, penalties and penny-stock bars. These are allegations.

In a separate administrative proceeding attorney Charles Lloyd settled for issuing opinion letters despite red flags, with $3,150 disgorgement, $501 interest and a $40,000 penalty. That is a different respondent, so the $3,150 and the settled status on this record are cleared. This library tags the matter as reverse merger schemes.

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.

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.

Reverse merger schemes — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

2021-09-15 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.

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

Action	Agency	Filed	Technique	Penalty	Status
SEC v. Brian Quinn and David Skriloff (Environmental Packaging, 2024)	SEC	2024-10-18	Reverse Merger Schemes , Undisclosed Control Blocks	$461k	judgment
SEC v. Meta Materials, Inc. ( and others (engineered short squeeze, 2024)	SEC	2024-06-25	Engineered Short Squeeze , Reverse Merger Schemes	$1m	settled
SEC v. Darren Ofsink and Michael T. Morris (CodeSmart, 2023)	SEC	2023-04-03	Reverse Merger Schemes , Undisclosed Control Blocks +1	—	judgment
SEC v. James T. Patten, Peter L. Coker Sr. and Peter L. Coker Jr. (reverse merger schemes, 2022)	SEC	2022-09-27	Reverse Merger Schemes , Price Manipulation	—	filed
SEC v. Charles Parkinson Lloyd (reverse merger schemes, 2021)	SEC	2021-09-15	Reverse Merger Schemes , Unregistered Distributions	$40k	settled
SEC v. Peter DiChiara (reverse merger schemes, 2020)	SEC	2020-09-03	Reverse Merger Schemes , Undisclosed Control Blocks	$40k	settled

Record added September 10, 2026. If this matter has since resolved, been withdrawn or been dismissed, we want to know: submit a correction.