Hi do you remember EV Blog number 1333 Nano Diamond Self-charging batteries could disrupt energy as we know it and I did a debunking video on that and how that was basically marketing. Now not that these things aren't real. Um, like these beta voltaic batteries as they're called. they're a real thing.

Companies have been selling them for decades. They're they're actually a thing and they can generate. You can buy a commercial like 100 microwatt module and yes, micro. Watts But all the marketing behind this anyway.

I'll link in the video If you haven't seen it. Go and watch it. It's absolutely hilarious and they talk about how it's manufactured and how they've got like a doublea battery to do it and all sorts of things. anyway.

Um, they promptly removed this image I think from their website at the time which actually showed the 100 microwatt uh beat of voltaic and they were talking about I charging EVS or some rubbish and all sorts of stuff. right? Anyway, debunking video What's happened? We have an update, breaking news, breaking news from nuclear news wire here and by the way, uh, this. Thank you uh for one of my EV blog Forum uh members winner winner chicken dinner for alerting me to this Securities and Exchange Commission lawsuit against Nuclear Diamond Battery Startup the Securities and Exchange Commission is suing Nuclear Diamond Battery Developer NDB Inc Charging that the company and its chief executive officer Neema gy sorry I'm done. How to pronounce that defrauded investors by making Mater justly false and misleading statements in a company press release.

So this is what the Securities and Exchange Commission in the US are. Uh, claiming they're they're suing them. Um, defrauded investors? That is their claim. A private startup company uh, forly based in Sanford formly based? they're not based anymore, They gone out of business I Don't know.

Um NDB is reportedly developing a high powerered, high powerered, 100 microwatts nuclear battery that derives its power from the decay of R radio isotopes recovered from nuclear waste. The company has claimed the battery can last up to 28,000 years without being replaced. Well, you know there's circuitry inside this thing, so you know you can't beat the laws of Electronics engineering. Captain The Allegations: The SEC alleges that NDP and G Surfy raised over 1.2 million from investors after falsely claiming in an August 25 2020 press release that NDB had successfully tested its Battery Technology and I think I I covered that in the original Uh video at two Laboratories in the United States and United Kingdom and that NDB had signed its first two beta customers and I guess that's how they were able to raise their money.

Oh look, it's been tested in two different labs and uh, they've signed customers as well so you know shows momentum and according to the sack, these claim CL s were false and misleading because NDB had not tested his Battery Technology at either laboratory nor had the company signed Anyb to customers at the time of the press release. Oopsie! In the month following the publication, NDB raised approximately 660,000 as well as approximately 580,000 additional investor funds in the subsequent 11 months according to the SEC. So the SE is seeking injunctive relief including conduct based injunctions, disgorgement, plus prejudgment interest and civil penalties from NDB and Go Saifi and an officer and director bar against Uh Go Saifi. so it looks like they want to borrow him from being a director for any future companies.

Interesting. So these debunking type videos that I and others do on these Uh products and companies and Kickstarters and Indiegogo and start engines and whatnot. Um, they usually just go out of business because yeah, the either the product was was never going to work, it was. you know it was never practical or whatever.

Solar roads and fontas and all sorts of you know, fantastic stuff. The the list is long and distinguished, but um, the Securities and Exchange Commission are going after them. I've done debunking videos on Uh companies that have raised a lot more money than this, but hey, um, they're They're claiming just outright fraud here. So this is their actual litigation release.

Uh here. So I'll link in all these down below. So the Uh Securities and Exchange Commission I call them the Seck sorry, that's just you know it's common in the industry versus NDB Inc So this was Uh September 14th and today we formally Uh charged them Etc The sex complaint alleges that raised over 1.2 million after falsely claiming had successfully tested its batteries and we read the complaint in that article uh before and that's the exact complaint. The sex complaint filed in District Court of Northern District of California charges goal Cfic with violating Section 1 A of the Securities Act of 1933 gez they haven't updated that have they um and section 10B of the Securities Exchange Act of 1934 and they investigation was uh done by uh these people and you know you can go in and look at the set complaint um in detail like we I won't go through the whole thing.

this is not law Channel leave it to one the law YouTubers if they're interested uh in this thing but this seems to be the main like Banner thing here. On August 25th, 2020 NDB issued a press release uh approved by Go Sheriffy that contained a number of materially false and misleading statements, including but not limited to the following: The press release touted a purported major technological laboratory breakthrough and then as I showed in my debunking video, that's what all the like it spread like wildfire in the news and the like. the Press just ran with this in nuclear Diamond battery. Wow, you know even though it's just a beat of voltaic battery and they've been around for decades and you can just buy them off the shelf.

And yeah they're a real thing but they just produce tiny amount P of power for a very, very long time. Useful. Very useful for really Niche applications, but they're very expensive and it's not, you know any. Anyway, they were claiming they could put in like a little doublea battery and the doua battery had last for you know, forever and stuff like that.

So they actually claimed they actually signed some customers in particular NDB falsely claimed that one it had successfully completed proof uh, proofs of concept tests. That's a quote of the NDB battery at a National Laboratory in the United States. The American lab and a laboratory affiliated with a major university in the United Kingdom and that is proprietary battery achieved a breakthrough 40% charge in both tests and NDB had signed two beta customers. In reality, NDB had not conducted any testing at those Laboratories oops or developed its own battery for such testing.

They're claiming they hadn't even developed their own battery its own battery for such testing. What are they claiming? It didn't even exist Apart from the you know, the 3D renders Say It Ain't So and it had not signed any beta customers. So this is the claims of the Securities and Exchange Commission. Wow, so it looks like they're seeking to get the money back for the investors.

That's the disgorgement of ill gotten gains I Love It disgorgement of ill gotten gains with prejudgment, interest and civil monetary penalties Anyway, I'll I'll link you all this down below. but like the fact allegations, right, there's tons of this and they're saying that he um formed it as a Silicon Valley company to develop and manufacture. but at the time, Go Sheriffy did not live or work in the United States and instead resided in the United Kingdom. During all times relevant to this complaint, Go Sheriffy controlled all important aspects of NDB operations, research efforts, and self-promotion and he hired a San Francisco based Boutique Communications firm to help NDB with their public relations campaign for the company which included their press releases.

So, but that's that's common. Of course, when you got these startups, you hire one of these communications PR firms and they help write your press releases. And contrary to the claims of the press release, NDB had not conducted any proof of concept tests of the NDB battery or achieved any significant results at the American lab. In fact, Beyond a few sporadic emails between Go Sheriffy and a scientist at the American lab uh, between 2017 2019 did not even have contact with the American lab, much less conduct any test in WoW The Scientist did not perform any proof of concept test with NDB or Go Sheriffy as Go Go Sheriffy has since admitted and he's admitted it.

He's admitted it NDB did not develop its own battery. He's admitted they did not develop their own battery it's not just a claim and did not test its technology at the American lab. So they called him out and he admitted it. By the sounds of it, and several weeks after, the press release and this thing just exploded in the Press I guess it got back to this Uh British Uh Lab.

And and uh, they emailed the communications firm to request that they remove reference to the British Lab. No such testing ever took place at the British Lab as far as my staff are aware. Oh wow, and the American Labs did the same. And after that, Go Sheriffy directed the communications firm to avoid using the two Laboratories names in future articles.

Wow! And he blamed intellectual property concerns. Instead of telling the communications firm that they had not conducted tests at evil Laboratory Go Sheriff He knew or was reckless in not knowing that the statements in the press release regarding the proof of concept testing and test results were false and misleading by virtue of Go Sheriff's involvement in and control over company. NDB also knew or was reckless in not knowing the statements regarding the proof of concept were false and misleading. And as for the claims of the two Uh beta customers no pun in tested Beta Tech customers for the Beta Voltaic get it mirr or week they did not have any beta customers at the time of the press release and they go on to define beta customers.

The Aerospace and defense company referencing the press release was a prominent Us Uh company. As he's admitted, Uh NDB approaches about a potential collaboration. However, no partnership or collaboration ever materialized. So yeah, it like contacted them and went well.

Let's put to the press release. So they signed a non-disclosure agreement and set the a draft letter of support in which the US Defense Company would agree to work with them. But and it specifically says the non-disclosure agreement expressly stated that it did not create a business relationship of any kind and the draft letter of support was never executed by the party. Wow, They did not enter into any agreement with the US Defense company Uh to test the prototypes at all.

so it was all just BS and same for the Uh second company which was in Uh France as well. They basically there's no contractual relationship um, and they didn't do any testing at all. And they Amplified The media attention resulting from their false and misleading Uh press releases NDB received significant attention from the news media, online blogs, and potential investors. As a result of the press release.

Within A day of the press release's publication, approximately 63 articles had been published based on information in the press release, including articles on well-known technology news sites NDB took advantage of and Amplified this press attention by posting links to the article on its social media accounts. For example, after one prominent Technology News website published the article NDB Uh Aces key Test and L's first be to Customers NTB promoted the article on both Twitter and uh its website. Wow, They H after the press release, hundreds of potential investors contacting them through their website and emailing the communications firm expressing interest in investing. Wow, That's the power of these press releases.

That's why startup companies do this and they hire the Uh PR firms to do these press releases. and there's companies that like spread the press releases out and stuff like that and then once one picks and all you need is one of the big major ones uh to pick it up and then all the others pick it up and they all just run with it. but they like this just went crazy. NDB even provided potential investors who were accredited or self-certified as sophisticated uh, in investors that is, that's a specific legal term, a sophisticated investor um, with the opportunity to buy shares of NDB at 435 per share and directed interest investors to wire money to two business bank accounts in the United States so they didn't even go through like start engine or anything like that.

By the sounds of it, they were just like just why some money into our account and buy some shares. No worries, about 27 investors invested approximately 660,000 eventually in the year after, defendants received approximately 1.24 million investment funds from around 68 investors in the United States at abroad. Wow! and he paid himself a bi-weekly salary using investor funds and I've actually got info on that Here it is here. Here's from the SE investigation here.

and here's the um actual SE thing here. And here's the offer of employment to himself for beans CEO of the company. So this was 2019 and uh, offer of employment We are writing to confirm our desire. He's writing to himself to confirm his own desire to offer himself a position of employment with the company that he owns.

But you, this is just standard stuff. I Guess if you're a you know, a small like company and you're the owner and you want to appoint yourself the CEO I Guess you have to write these letters for official reasons and stuff like that. It's just a thing yeah please to offer you the position of Chief Executive officer And there you go. Um, salary of $187,000 a year? Fantastic.

You're sincerely and this is also from the Uh SE investigation. This is an archive from their Uh web page uh, facility and Land Development because they claimed to. You know, not that they had these, but they claimed that was part of if you invested. Yeah, we're going to build these you know R&D research facilities and uh, it will be built by H The Architects of the nuclear Regulatory Commission It's going to be built and everything else right? And it's going to be in in California It's going to be a Californian facility right? and all this sort of stuff.

And here's all the cost breakdowns of all the budge in they need to actually uh build this thing and as a turns out um these and thank you to the EV blog Forum member for pointing this out. um these photos they were taken from a model of this um origin harow Innovation Park which is not in California it's in uh Essex in in London in the in the Old Dart right and this is the right. So there must have been like a 3D model or something like that, but this is the same. This is the same building so um yeah.

oopsie. So yeah this is a laboratory and office space. um but yeah it's not in California so it's like no no no no no but it is actually a real thing thing but it's just not for them and it's not in California So anyway here's all the claims for Relief and yeah I'm not a YouTube uh lawyer. So prayer for Relief okay yeah I don't I don't understand any of this but yeah there it is there it is the Securities and Exchange Commission um have uh filed lawsuit against the nuclear Diamond battery and yeah at that time it was like yeah I went through all the I think I went through some of the press releases and stuff like that and it was just nuts and they were like doing making all sorts of claims but as it like I thought this was just like a regular you know, um sort of like a Kickstarter type startup thing that would just taking a something that actually is a real technology.

so like you know, fontas with their water harvesting from air and stuff like that, that's all real solar roadways does actually work you know, um and and all sorts of stuff that I've done debunking on them. the you know this is a real thing be the voltaics are a real thing but it turns out they didn't. He admitted they didn't have a product um and they didn't have uh like any agreements they had done, no testing, there was no product, no testing and they had no customers at all and they raised Um funds as a result of that and well they raised $1.2 million based on all these claims which um, they've admitted that they never had the product, they never got them tested or anything and the Securities in Exchange Commission um it looks like they I assume they're going to win. seems like a pretty uh, they've admitted stuff and it seems like a pretty, uh, clear-cut case.

So hope I don't know how much of the money is spent or how much the investors are going to get back I Hope they get back a decent amount, but there you go. but there you have it. Um, is that the first I'm pretty sure that's the first debunking I've done that has been um, like sued because it was actually fraudulent. Usually they're not.

You know, they're sort of just hopeful and they just develop this Tech which is never going to be practical or whatever. Um, but in this particular case, no, the SE are alleging fraud and I'd be surprised if they don't. uh, win their lawsuit there. So I hope the investors get some money back.

But anyway, um I'll link in my original uh video down below and you can go check that out. and uh, that yeah, the nuclear Diamond battery this dip package here and never existed. Oops. Anyway, hope you enjoyed that follow-up video.

If you did, please give it a big thumbs up. Comments and things down below and on the Evev blog forum. and thanks to winner winner chicken dinner on the EV blog forum for uh, pointing this out. Unbelievable! Catch you next time.