Alan Burak
Date:
March 17, 2025
Type of alert:
Fraud
The Securities and Exchange Commission (SEC) has charged Alan Burak, founder of Never Alone Capital LLC, with defrauding investors out of $4 million by falsely presenting himself as a wealthy hedge fund manager and misrepresenting his investment strategy.
Between 2018 and 2023, Burak allegedly recruited at least 17 investors, many from a Spanish-language financial education program, by promising guaranteed returns and claiming their funds would be invested on Wall Street. Instead, Burak misappropriated investor money for luxury expenses and an adult-only subscription service, while sending false account statements showing fictitious profits. In July 2022, he admitted in a recorded conversation that he was a fraud with no real business.
The SEC has filed charges in the U.S. District Court for the Southern District of New York, and criminal charges have also been brought by the New York County District Attorney’s Office.
If you invested with Never Alone Capital or Alan Burak, ChapmanAlbin LLC may be able to help. Contact us today for a free consultation to explore your legal options. Stay informed on the latest investor alerts by visiting our website.
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