Kalder's CEO kept two sets of books for a $6.7M raise — SEC suit, and a guilty plea

On October 2, 2026, the SEC filed a partially settled action in the Southern District of New York against Kalder Inc., a New York-based fintech startup, and its founder and CEO Gökçe Güven, alleging they defrauded investors of nearly $6,705,000 in a securities offering by making false and misleading statements about Kalder's financial performance. From approximately April 2024 through at least December 2024, Kalder raised capital to fund its growth while, according to the complaint, misleading investors about how the business was actually doing.

The complaint alleges Kalder maintained two sets of books: one accurate set prepared by its outside bookkeeper from third-party financial institution data, and a second set with inflated numbers, created and communicated to investors at Güven's direction. Actual monthly revenue was allegedly far below the figures shown to prospective investors, and the growth the defendants described was not happening. Investors were also allegedly lied to about customer counts — many claimed as revenue-generating contract holders had actually signed up for free 'demo accounts' or short-term discounted pilots.

The SEC charged Güven and Kalder with violating Section 17(a)(2) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5(b). Güven, without admitting the allegations, consented to a judgment — subject to court approval — that would permanently enjoin her from violating the charged provisions and impose a six-year officer and director bar, with disgorgement, prejudgment interest and civil penalties to be determined by the court. She had already pleaded guilty to securities fraud in a parallel criminal case brought by the US Attorney's Office for the SDNY.

A ~$6.7M offering allegedly built on false statements; a six-year officer and director bar, injunctions, and disgorgement and penalties still to be set by the court.

The complaint says the inflated numbers were not sloppy reporting but a second, curated set of books created at the founder's direction and shown only to investors.

Demo accounts and discounted pilots were presented as revenue-generating contracts, converting interest into apparent commercial traction.

The gap between the outside bookkeeper's records and the investor-facing figures meant the fraud survived only until anyone checked the real books.

Investors will eventually talk to your bookkeeper: the second, rosier set of books is not a narrative, it is the fraud count.

Güven agreed to a bifurcated settlement: without admitting the SEC's allegations, she consented to permanent injunctions on the charged provisions and a six-year officer and director bar, with disgorgement, prejudgment interest and civil penalties to be determined by the court on the SEC's motion, all subject to court approval. She has separately pleaded guilty to securities fraud in the parallel criminal action; Kalder itself remains a defendant in the SEC's civil case.