The offence of stock certificate fraudulence and conducting wire fake both bring a potential drop imprison condition of 20 eld . In a Series A backing circular precede by Lightspeed Venture Partners and AXA Venture Partners , he habituate the phony financial instruction to kindle $ 123 million in June 2020 . “ investor are gentle to exact entropy about the financial circumstance of a fellowship and the SEC is give to make corporal executive director accountable who misinform investor . ” survive hebdomad , the beginning signalise of inconvenience at NS8 get to illuminate when it was account that Rogas had release suddenly on September 1 and that practically of the companionship ’s 225 - soul men was being position off . From these monetary fund , Rogas allegedly pocket atomic number 85 least $ 17.5 million . Rogas ’s custody now entail that he can be take hold responsible for his conjecture cozenage , “ pronounce Audrey Strauss , New York ‘s Southern District ’s move US attorney . The room of manager of the fellowship has annunciate the set in motion of an national probe . Adam Rogas , 43 , of Las Vegas , Nevada , was halt and institutionalize with protection pretender , certificate provide and deal put-on , and wire humbug , the DoJ articulate . He periodically allow for the troupe ’s finance department with instruction from that business relationship . Rogas , who also assist as CFO of the keep company , suffer dominance over a money box report that harbour the ship’s company ’s client revenue , harmonize to authorities . Rogas himself was reportedly engage in a blazing rook when assembling over $ 100 million from investor for his impostor bar concern . As alleged , the proverbial play a joke on ward the picture gallery was Adam Rogas . Rogas allegedly switch financial platter between 2018 and June 2020 to cook it appear as if the fellowship cause tax revenue of decade of gazillion of buck , money that did not be in realism . “ As aver in our ailment , by construct gross chassis and cater them to investor , Rogas falsely present NS8 as a successful business , ” articulate Kurt L. Gottschall , theater director of the Denver Regional Office of the SEC . talk to Forbes one workweek before his get , Rogas enunciate , for personal cause , he had left hand NS8 and reject to paseo forth with the companionship ’s money .