January 12, 2023
George Iakovou and Vika Ventures LLC, his venture capital firm, were charged with selling over $6 million of securities to over 45 investors. The SEC also announced settled charges against Penelope Zbravos for her role in Vika Ventures. Iakovou allegedly used fraudulent documentation to convince investors that Vika Ventures was successful. According to the complaint, Iakovou’s then-girlfriend, Penelope Zbravos, saw sufficient red flags regarding the company’s operations to make her a negligent participant in Vika Ventures.