SEC v. Todd Elliott Hitt, et al. (2018)

Settled

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In October 2018 the SEC charged Virginia developer Todd Hitt with raising over $20 million for real estate and other ventures through his Kiddar companies and skimming millions for his own use. Hitt agreed to settlement terms, subject to court approval, including an asset freeze, injunctions and a receiver.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-24307
Date filed	2018-10-05
Date resolved	2018-10-05
Court	U.S. District Court, Eastern District of Virginia
Status	settled
Criminal parallel	No
Bars imposed	conduct-based injunction
Defendants	Todd Elliott Hitt (individual) ; Kiddar Capital LLC (entity) ; Kiddar Group Holdings, Inc. (entity) ; Kiddar Herndon Station LLC (entity) ; Kiddar Homebuilding Fund I LLC (entity) ; Melbourne Retreat LLC (entity) ; Kiddar Mass Ave LLC (entity) ; Kiddar Ridgeview LLC (entity) ; ESA Emerson LLC (entity) ; ESA Highwood LLC (entity) ; Kiddar AQ LLC a/k/a Kiddar Aquicore LLC (entity)
Cited as charged or alleged	Advisers Act s.206 ; 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 case on October 5, 2018 (LR-24307) in the Eastern District of Virginia. It alleges that over at least four years Hitt misstated his own investments in an office building near a planned Silver Line station, home construction and a start-up fund, commingled and misappropriated several million dollars, and made some payments to earlier investors from new money. Eight further Kiddar entities are named as relief defendants.

The Ponzi tag is removed because the release describes misappropriation and commingling across several real estate projects, with payments to prior investors only one use of the funds. The record also ran the defendant list together with the relief defendants; each entity is now listed separately.

Timeline

2018-10-05 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.