The SEC said in an Oct. 10 statement that Rimar Capital LLC, Rimar Capital USA CEO Itai Liptz, and Rimar USA board member Clifford Boro jointly paid a $310,000 civil penalty to settle fraud-related charges - which they did not admit or deny. Andrew Dean, co-head of the SEC's asset management division, claimed that Liptz and Boro raised $3.73 million from potential investors by using AI "buzzwords" to describe Rimar's "AI-powered" platform allegedly used to trade cryptocurrencies, stocks and futures.