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SEC accuses Spaventa Group of running a boiler-room style scheme selling private AI company shares, raising $74 million from investors

Legal action Provisional 90% confidence first seen

The U.S. Securities and Exchange Commission alleges that The Spaventa Group operated a pre-IPO boiler-room-style sales operation that cold-called retail investors to buy shares in private tech firms, including Anthropic, Perplexity, and Anduril. The SEC claims the firm raised more than $74 million between December 2020 and June 2025 while charging investors markups averaging 46% above the companies’ prices.

Andrew Spaventa The Spaventa Group Anduril Anthropic Perplexity SEC SpaceX U.S. Securities and Exchange Commission

Source coverage

Boiler room raised $74 million selling retirees SpaceX, Anduril, Anthropic, and Perplexity while reaping ‘massive hidden fees,’ SEC claims Fortune independent AI gets its own "boiler room" scandal Fortune independent

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