Toon Goggles Inc. and founder Ira Warkol raised at least $19 million through five unregistered securities offerings, the SEC said in California federal court Sept. 5.
Warkol set up cold-calling center at the children’s streaming service’s offices from 2012 to 2016 to collect funds from at least 400 investors, a Securities and Exchange Commission complaint filed in the U.S. District Court for the Central District of California said. As much as 35% of each investment went to commissions and finder’s fees for Warkol and his salespeople, the agency said.
Investors didn’t receive necessary information about Toon Goggles because Warkol and ...
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