Bran Crudden and Transparent Equity Entrepreneurs, LLC

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26680 / October 30, 2026

Securities and Exchange Commission v. Bran Crudden and Transparent Equity Entrepreneurs, LLC, No. 3:26-civ-01905 (D. Conn. filed October 29, 2026)

SEC Files Settled Action as to Connecticut Resident and His Company for Operating Alleged Fraudulent Investment Scheme

On October 29, 2026, the Securities and Exchange Commission filed settled charges against Connecticut resident Bran Crudden and his solely owned and operated company Transparent Equity Entrepreneurs, LLC, for allegedly operating a fraudulent investment scheme. Crudden and Transparent Equity agreed to settle the Commission’s action by consenting to the entry of final judgments that, among other things, would order payment of $910, 577 in monetary relief.

According to the SEC’s complaint, filed in the United States District Court for the District of Connecticut, from March 2021 through at least March 2026, Crudden, operating through Transparent Equity, raised more than $645,000 from approximately twenty-three retail investors by offering and selling investment interests in a day trading fund and various pre-IPO (initial public offering) funds. The complaint alleges that Crudden lied to investors about, among other things, both his and the day trading fund’s track record of performance, use of investor money, and the content of certain pre-IPO investment opportunities. According to the complaint, Crudden and Transparent Equity also misappropriated investor funds and attempted to conceal investor losses by sending investors falsified statements and making Ponzi-like payments to investors that requested withdrawals.

Without admitting the allegations in the SEC’s complaint, Crudden and Transparent Equity consented to the entry of final judgments, subject to court approval, that would permanently enjoin them from violating Section 17(a) of the Securities Act of 1933 and Section 10(b) off the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and order them to pay, on a joint and several basis, $544,390 in disgorgement plus $129,736 in prejudgment interest. Additionally, the final judgment as to Crudden, if approved, would impose a permanent injunction prohibiting him from issuing, purchasing, offering, or selling any security, except for purchases or sales in his own accounts, and order him to pay a civil penalty of $236,451.

The SEC’s investigation was conducted by Mark Albers, Dawn Edick, Sean Fishkind, David London, and Celia Moore of the SEC’s Boston Regional Office.