Cheetah X Inc., Alexander Debelov, and Khodr Salam file with SEC

The Securities and Exchange Commission has taken legal action against Cheetah X Inc., a scooter rental company also known as Go X, and its CEO Alexander Debelov, over alleged fraudulent activities. The charges filed by the SEC include accusations of misleading investors and manipulating financial records.

According to the SEC, Cheetah X Inc. and Debelov engaged in fraudulent behavior by providing misleading information to investors to attract funding for their business. The company allegedly misrepresented its financial status and performance to potential investors, leading them to believe that the company was more successful and profitable than it actually was.

The SEC’s investigation revealed that Cheetah X Inc. and Debelov manipulated financial data, exaggerated revenue projections, and made false statements about the company’s growth potential. These actions were allegedly aimed at enticing investors to provide funding to the company based on misleading information.

The charges brought against Cheetah X Inc. and Debelov highlight the importance of transparency and honesty in financial reporting. Investors rely on accurate and truthful information to make informed decisions about where to invest their money. When companies engage in fraudulent activities and mislead investors, it undermines the integrity of the financial markets and erodes trust in the system.

The SEC is working to hold Cheetah X Inc. and Debelov accountable for their actions and to ensure that investors are protected from fraudulent schemes in the future. By pursuing legal action against companies and individuals who engage in fraudulent behavior, the SEC aims to maintain the integrity of the financial markets and uphold investor confidence.

Investors are encouraged to conduct thorough due diligence and research before making investment decisions. It is essential to verify the accuracy of financial information provided by companies and to be wary of any red flags that may indicate fraudulent activity. By remaining vigilant and informed, investors can protect themselves from falling victim to fraudulent schemes like the one allegedly perpetrated by Cheetah X Inc. and Debelov.

The SEC’s enforcement actions serve as a reminder that fraudulent behavior in the financial markets will not be tolerated. Companies and individuals who engage in deceptive practices will face consequences for their actions. By holding wrongdoers accountable, the SEC is working to promote transparency, honesty, and integrity in the financial markets, ultimately benefiting investors and the broader economy.