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D2 Lithium Corp V.HX


Primary Symbol: V.DTWO Alternate Symbol(s):  DTWOF

D2 Lithium Corp. is a Canada-based integrated lithium exploration company. The Company’s projects include Teels Marsh, Alkali Lake and Guayatoyoc. The Company holds a 100% interest in 403 placer mineral claims covering approximately 7,914 acres (3,202 hectares) of the Teels Marsh area, which is located approximately 190 kilometers southeast of Reno, and 80 kilometers northwest of the Clayton Valley which hosts Albemarle's Silver Peak Lithium Brine Mine. It also holds a 100% interest in 139 placer mineral claims covering 2,832.4 acres in the Alkali Lake, in Esmeralda County, Nevada. The Alkali Lake Lithium property is located about seven miles northeast of Albemarle's Silver Peak Lithium mine. The Company has a 49% joint venture interest in mineral concessions in Jujuy Province, Argentina, Guayatoyoc, which covers approximately 230,000 acres. Its wholly owned subsidiary is Dajin Resources (US) Corp.


TSXV:DTWO - Post by User

Post by marketcrash00on Sep 22, 2022 1:03pm
499 Views
Post# 34979468

charged by the SEC with fraud.

charged by the SEC with fraud.

INVESTORS: Ramas Capital Management, LLC and owner Ganesh Betanabhatla were charged by the SEC with fraud.

The SEC filed charges against Ramas Capital Management, LLC and its owner, managing partner, and chief investment officer Ganesh Betanabhatla for alleged misrepresentations and breaches of fiduciary duty to a privately-managed fund and its sole investor.

The SEC’s complaint against Ramas and Ganesh alleges that while acting as investment advisers to a private investment fund they formed, Ramas and Betanabhatla made various misrepresentations and misused the fund assets. In particular, the complaint alleges that the defendants falsely told the sole fund investor that they had already raised $25 million for the fund, that a well-known and respected energy investor identified by name was involved in the fund and supported the investment, and that the fund was a special purpose vehicle solely set up to invest in a specific portfolio company. The complaint alleges that, in fact, there were no other investors in the fund, the respected energy investor was not involved, and, after receiving the investor’s $1 million, the defendants did not make any investment in the portfolio company and instead transferred most of that money to a completely different portfolio company related to one of Ramas’ earlier private investment funds.

The SEC also alleges that Ruiz misappropriated or misused about $6.5 million of investor funds, a portion of which he spent on various personal expenditures. While Ruiz’s sales team received at least $5.3 million, and Ruiz directly received another $292,000, in commission payments from MJ Capital for promoting these investments.

The SEC’s complaint charges Ramas and Betanabhatla with violating the anti-fraud provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1), 206(2), and 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-8 thereunder. The complaint seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties against each defendant.


If you have any information about Ramas Capital Management, LLC and its owner Ganesh Betanabhatla  that you would like to share or discuss, please call our firm for a confidential consultation. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.

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