SEC v. Titanium Capital LLC and others (ponzi schemes, 2023)

Judgment entered

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In December 2023 the SEC charged Titanium Capital LLC, Henry Abdo and Carol Ann Barsh over an alleged Ponzi scheme. A summary-judgment final judgment against Abdo on March 4, 2026 and a default judgment against Titanium on February 17, 2026 order disgorgement of $2,920,668 plus interest; claims against Barsh were dismissed.

The record

What was ordered

Civil penalty

—

Disgorgement

$2.9m

Prejudgment interest

$468k

Total relief

$3.4m

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 matter on December 18, 2023 as release LR-25912. The complaint alleges that Titanium Capital and its founder Abdo ran a Ponzi scheme raising at least $5.3 million from more than 160 investors for a non-existent currency fund, and that representative Barsh sold the securities without registration. Criminal charges against Abdo were announced in a parallel action; an officer-and-director bar is sought.

This library tags the matter as a Ponzi scheme because the document describes returns to earlier investors paid from later investors' money, as alleged or found. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

A parallel criminal proceeding is referenced. Civil and criminal outcomes are recorded separately, because they resolve on different standards of proof.

The SEC reported on March 30, 2026 that the Southern District of Florida entered a default final judgment against Titanium Capital on February 17, 2026, and on March 4, 2026 granted the SEC summary judgment against Henry Abdo. The judgment enjoins Abdo from violating Sections 5 and 17(a) and Section 10(b) with Rule 10b-5, and from securities dealing outside his own account. Abdo and Titanium are jointly liable for disgorgement of $2,920,668 and prejudgment interest of $467,933, offset by $375,479 of restitution ordered in the parallel criminal case, where the release says Abdo pleaded guilty to wire fraud and was sentenced to 168 months.

Claims against Carol Ann Barsh and two relief defendants were earlier dismissed on the SEC's notice. The release describes the SEC's litigation as complete.

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.

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

Timeline

1. 2023-12-18 Litigation release published
2. 2026-03-04 Final judgment entered against Henry Abdo (default judgment against Titanium on February 17, 2026)

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 reporting the outcome

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 2 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 10, 2026. submit a correction.