SEC Charges Kalder, Gökçe Güven in $6.705 Million Offering Fraud Case
SEC alleges Kalder and CEO Gökçe Güven used inflated revenue and customer figures to raise $6.705 million; Güven agreed to a six-year officer and director bar.
Summary
In Litigation Release No. 26667, published October 7, 2026, the SEC said it filed a partially settled action on October 2 against New York fintech startup Kalder Inc. and founder and CEO Gökçe Güven. The complaint, Securities and Exchange Commission v. Gökçe Güven and Kalder Inc., No. 26-civ-8716 in the Southern District of New York, alleges they raised nearly $6.705 million from approximately April 2024 through at least December 2024 using inflated revenue and customer figures. Kalder allegedly kept accurate books prepared by an outside bookkeeper from third party financial data and a second, inflated set created and shared with investors at Güven’s direction. Actual monthly revenue was allegedly far lower, growth was neither consistent nor substantial, and many purported paying customers had only free demo accounts or discounted short-term pilots.
The SEC charged both defendants under Securities Act Section 17(a)(2), Exchange Act Section 10(b), and Rule 10b-5(b). Without admitting the complaint’s allegations, Güven consented, subject to court approval, to permanent injunctions and a six-year officer and director bar. Disgorgement, prejudgment interest, and civil penalties will be determined after an SEC motion. Güven previously pleaded guilty to securities fraud in a parallel criminal case brought by the U.S. Attorney’s Office for the Southern District of New York.
Rhonda L. Jung, John Lehmann, and Mala Bartucci conducted the SEC investigation under Janna Berke and Sheldon L. Pollock. Elisa Solomon will lead the litigation under Alex Vasilescu, with assistance from federal prosecutors, the FBI, and the United States Postal Inspection Service.
Positives
- Güven consented to permanent injunctions and a six-year officer and director bar, subject to court approval.
- Kalder’s outside bookkeeper maintained accurate records using data from third party financial institutions, according to the SEC complaint.
- The proposed judgment allows the court to impose disgorgement, prejudgment interest, and civil penalties after an SEC motion.
- Güven previously pleaded guilty to securities fraud in a parallel Southern District of New York criminal action.
Risks & concerns
- Kalder and Güven allegedly raised nearly $6.705 million using false or misleading financial performance claims.
- Two sets of books were allegedly maintained, including inflated figures created and communicated to investors at Güven’s direction.
- Kalder’s actual monthly revenue was allegedly far below the figures shown to prospective investors.
- Many claimed revenue-generating customers allegedly had only free demo accounts or discounted short-term pilot programs.
- Disgorgement, prejudgment interest, and civil penalty amounts remain undetermined, while Güven’s settlement still requires court approval.
