SEC Charges Owner of Real Estate Investment Company with Defrauding Investors

The Securities and Exchange Commission today charged a New Jersey resident with defrauding investors, most of whom were members of the Orthodox Jewish community, who invested millions based on false claims about investments in real estate. The SEC’s complaint alleges that Seth P. Levine, the president and owner of Norse Holdings, LLC, a real estate investment and management company, sold membership interests in limited liability companies that purchased and owned apartment complexes. According to the complaint, from at least February 2015 through August 2019, Levine raised millions of dollars from more than 60 investors, including family, friends, and other investors, many of whom belonged to the Orthodox Jewish community.