The Securities and Exchange Commission filed charges against Adam B. Rundle on September 10, 2026, alleging that he raised approximately $1.5 million through an offering fraud involving a purported Simple Agreement for Future Equity, or SAFE, in Robinvest, LLC. The complaint alleges that Rundle misappropriated all of the investor’s funds after obtaining the money by impersonating a licensed securities professional and making material misrepresentations.
Filed in the U.S. District Court for the District of Maryland, the complaint alleges that Rundle defrauded the investor from at least November 2021 to January 2024. According to the SEC, Rundle created and controlled Robinvest and falsely represented that the investor would purchase a SAFE guaranteeing both the principal investment and a return of 4% compounded annually.
The SEC alleges that Rundle did not invest the money as promised and instead misappropriated the entirety of the funds. The complaint further alleges that Rundle admitted to former business partners that he had stolen money from a customer, used it to purchase cryptocurrency and lost all of it.
The complaint charges Rundle with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The SEC is seeking injunctive relief, civil penalties and disgorgement with prejudgment interest in Securities and Exchange Commission v. Adam B. Rundle, No. 1:26-cv-03590-ABA.
Paulina L. Jerez and Jacquelyn D. King conducted the SEC investigation under the supervision of Kingdon Kase, Brian R. Higgins and Scott A. Thompson of the agency’s Philadelphia Regional Office. Judson T. Mihok will lead the litigation under the supervision of Gregory R. Bockin.