Litigation Releases (Ian G. Bell)

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26189 / December 10, 2024

Securities and Exchange Commission v. Ian G. Bell

, No. 1:24-cv-03403 (D. Colo. filed Dec. 9, 2024)

SEC Charges Ian Bell with Defrauding Professional Athletes and Others in Fraudulent Day-Trading Scheme

The Securities and Exchange Commission today charged Denver resident Ian G. Bell with securities fraud for lying to investors and misappropriating their funds in connection with a fraudulent day-trading scheme.

The SEC's complaint alleges that, between July 2020 and March 2023, Bell raised more than $1.3 million from at least 29 investors, including professional athletes in Colorado, who are unidentified in the complaint. The SEC alleges that Bell lied to investors about his trading performance, including by sending many of them fabricated account performance screenshots. According to the complaint, several of Bell's investors then referred their family and friends to Bell because of the false statements. The SEC further alleges that Bell lost nearly all of the investors' money, kept hundreds of thousands of dollars for his personal use, and, to conceal his fraud, lied about his efforts to repay investors.

The SEC's complaint, filed in the U.S. District Court for the District of Colorado, charges Bell with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

In a parallel action, the U.S. Attorney's Office for the District of Colorado today unsealed criminal charges against Bell.

The SEC's investigation was conducted by Ty Cottrill and Anne Romero and supervised by Laura Metcalfe, Nicholas Heinke, and Jason Burt of the Denver Regional Office. The litigation will be led by Christopher Martin and supervised by Gregory Kasper, Mr. Heinke, and Mr. Burt. The SEC's complaint and the USAO's criminal charges follow parallel investigations by the SEC and the U.S. Postal Inspection Service and IRS-Criminal Investigation.

The SEC's Office of Investor Education and Advocacy has issued investor alerts on the red flagsof investment fraud. Additional information is available on Investor.gov.

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