SEC v. Allen C. Giltman (fake certificate-of-deposit fraud, 2025)

Judgment entered

Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In 2025, the Securities and Exchange Commission obtained a judgment against Allen C. Giltman. The SEC obtained a final consent judgment against Giltman for a fake certificate-of-deposit scam run through websites that imitated real financial firms. He pleaded guilty in a parallel criminal case and received 87 months. The $31,224,595 disgorgement is deemed satisfied by his criminal restitution.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-26399
Date filed	2025-09-12
Date resolved	2025-09-12
Court	U.S. District Court, District of New Jersey
Status	judgment
Criminal parallel	Yes: sentenced (Allen Giltman), D.N.J.
Sentence	7y 3m
Defendants	Allen C. Giltman (individual)
Cited as charged or alleged	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 Securities and Exchange Commission announced this matter on September 12, 2025 as release LR-26399. The respondent named is Allen C. Giltman (1 individual, 0 entities).

This library carries no technique tag on this matter. "Spoofed" here describes counterfeit websites imitating real banks in an investment fraud, not placing orders with no intent to execute them.

The SEC obtained a final consent judgment against Giltman for a fake certificate-of-deposit scam run through websites that imitated real financial firms. He pleaded guilty in a parallel criminal case and received 87 months. The $31,224,595 disgorgement is deemed satisfied by his criminal restitution.

The release references a parallel criminal proceeding. Where a criminal case exists, the civil and criminal outcomes are recorded separately, because they resolve on different standards of proof.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

Timeline

2025-09-12 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.