EEVblog 1579 - Nuclear Diamond Battery FRAUD Lawsuit by SEC!

[EEVblog]

The Nuclear Diamond Battery that made a huge marketing splash back in Aug 2020 and raised $1.2M in funding is now being sued by the SEC for fraud. No product ever existed, no testing was ever done, and they had no customers!

Original Debunking video:

https://www.ans.org/news/article-5359/sec-files-lawsuit-against-nuclear-battery-startup/
https://www.sec.gov/files/litigation/complaints/2023/comp25829.pdf
https://www.sec.gov/Archives/edgar/data/1787068/000178706821000004/golsharifi.htm
https://www.sec.gov/Archives/edgar/data/1787068/000178706821000004/offering.htm
https://www.bidwells.co.uk/properties/origin---harlow-essex-cm17-

[SiliconWizard]

Nice!

[.RC.]

The number of dodgy schemes and grifters out there seems to be endless.  What happened to just making money through work an innovation over ripping people off with marketing and word salads.

BTW enjoying the pool series on EEVblog2.  Dave certainly has a huge deck. I heard all the blokes in the street are envious of Dave's deck.

[EEVblog]

They raised equity funding as well:
https://www.picmiicrowdfunding.com/deal/NDB/

They claimed this guy was their CTO, but nothing about it on his LinkedIn, but he's a company officer.
https://www.linkedin.com/in/michael-pepper-93906024/?originalSubdomain=uk

https://www.sec.gov/Archives/edgar/data/1787068/000178706823000002/offering_statement.pdf

[magic]

The number of dodgy schemes and grifters out there seems to be endless.  What happened to just making money through work an innovation over ripping people off with marketing and word salads.

America happened, the world capital of narcissism.

Hard to tell if it's genuine fraud or thinking that they had everything figured out and they will get away with a little lie to "accelerate" the process.
Anyone remember Theranos?

[SiliconWizard]

The NDB will be able to address the energy crisis and climate change, two of the most pressing issues of our time.

'nough said.

[VK3DRB]

Notice on NDB's website the big words "INVEST NOW". https://ndb.technology/

This reminds me of a very dodgy character named Rick Mayne who "invented" a revolutionary car engine under the company name Split Cycle Technology. Split Cycle Technology claimed the spilt cycle engine was "tested by NASA" . When the split cycle engines went nowhere, Split Cycle Technology worked on a new invention and went about raising more investment funds: air powered bicycles. Pump in compressed air into the bicycle frame and use that as a source of motorised transport . No surprise Split Cycle Technology came out of Queensland. And the whole lot went bust as Mayne walked away with a fortune.

https://www.afr.com/companies/whatever-happened-to-20020523-ka403

There will always be oil salesmen around who use bamboozling terminology to make money out of fools. Like with everything, it is a case of buyer beware. 

[SiliconWizard]

Like with everything, it is a case of buyer beware.

Yep, unless this is public money. Then it's a case of everybody crying because some stupid decided to sign a contract and nobody had a say, so we can only find out when it's too late, cry, rinse and repeat.

[EEVblog]

Like with everything, it is a case of buyer beware.

Yep, unless this is public money. Then it's a case of everybody crying because some stupid decided to sign a contract and nobody had a say, so we can only find out when it's too late, cry, rinse and repeat.

In this case it gaining investment via outright fraud, so it's not just a simple "buyer beware" thing about dubious technical claims etc.

[VK3DRB]

Like with everything, it is a case of buyer beware.

Yep, unless this is public money. Then it's a case of everybody crying because some stupid decided to sign a contract and nobody had a say, so we can only find out when it's too late, cry, rinse and repeat.

In this case it gaining investment via outright fraud, so it's not just a simple "buyer beware" thing about dubious technical claims etc.

Point taken. Volkswagon committed fraud by lying to customers and testing authorities to sell their dodgy cars. Buyers were not aware before the scandal went public, but now that they know, they can henceforth avoid the brand altogether.