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Litigation Release No. 25012 / January 19, 2021 Securities and Exchange Commission v. Abhi Batra a/k/a Abhimanyu Batra, No. 2:21-cv-00434 (C.D. Cal. filed January 15, 2021) The SEC announced fraud charges against California resident Abhi Batra for allegedly conducting a free-riding scheme in which he fraudulently reversed more than $1 million in Automated Clearing House (ACH) transfers. The SEC s complaint alleges that Batra transferred money from bank accounts to brokerage accounts via ACH, then used the funds to purchase speculative options contracts. The complaint further alleges that when the options trades lost money, Batra would recall the ACH transfers to the brokerage firm by falsely representing to the bank that he had not authorized the initial transfers. As a result, Batra allegedly imposed his trading losses on the brokerage firms. By contrast, according to the complaint, when his trading was profitable, Batra kept the profits for himself. As alleged, Batra engaged

United statesLos angelesSarah nilsonJohn bulgozdyAnsu banerjeeWilliam rosenthalAmy longoAbhi batraLos angeles regional officeSecurities exchangeUs district courtAutomated clearing houseSecurities exchange actLos angeles regionalஒன்றுபட்டது மாநிலங்களில்லாஸ் ஏஞ்சல்ஸ்