The Securities and Exchange Commission (SEC) has filed a lawsuit against Faraz Dar, also known as Osman Dar, and Horizon Platinum LLC.

The complaint, seen by FX News Group, alleges a fraudulent securities offering by Faraz Dar and his Massachusetts-based company Horizon.

The SEC’s complaint alleges that, between July 2019 and May 2023 (the “Relevant Period”), Dar and Horizon raised money from investors who collectively invested in Horizon and related entities. Based on currently available information, those investments may total as high as $30 million.

The defendants falsely claimed that investors’ funds would be used to operate Horizon, which was purportedly in the business of exporting luxury cars from the United States to the United Arab Emirates and then further exporting those cars on to other countries.

Dar and Horizon engaged in a fraudulent scheme and made and used false and misleading statements in connection with the sale of Horizon securities to investors. Horizon’s purported business of exporting luxury vehicles out of the United States did not exist.

Automobile exporters are required to file export disclosures before transporting vehicles outside of the United States. No such filings were made by Horizon or Dar.

As part of their scheme to defraud, the defendants issued Horizon securities to investors in the form of “Investment Certificates.” Some Investment Certificates promised that investors would earn a return of 100% or more over an investment period of three or four months. These Investment Certificates were signed by Dar and by the investor and stamped with Horizon’s seal – a raised circular stamp that said “Horizon Platinum LLC, Company Seal, 2018, Massachusetts.”

Dar spent the majority of investors’ funds to pay for his lifestyle and living expenses. Those personal expenses included luxury clothing, jewelry, travel, hospital payments, and golf supplies.

In the course of soliciting investments, and lulling investors who were inquiring about why they had not been repaid when their investments matured, the defendants made numerous false and/or misleading statements to investors.

The defendants were able to keep the scheme going longer than it may otherwise have lasted because they were able to convince some investors to roll over the principal and promised interest from maturing investment certificates into new investment certificates with a higher balance. Defendants were thus able to avoid the need to make payments on some investment certificates when they were originally due.

In approximately May 2023, Defendants stopped making payments to investors when their investment certificates matured. As of the date of the SEC’s Complaint (August 28, 2025), the defendants have failed to repay at least $2.5 million in investment principal to investors with matured investment certificates. This sum does not account for the investment returns that Defendants promised to these investors.

The SEC accuses the defendants of violations of Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 thereunder [15 U.S.C. §78j(b); 17 C.F.R. §240.10b-5] and Section 17(a) of the Securities Act of 1933 (“Securities Act”) [15 U.S.C. §77q(a)].

The Commission seeks: (1) permanent injunctions enjoining the defendants from engaging in the transactions, acts, practices, and courses of business of the type alleged in the Complaint in violation of the federal securities laws; (2) disgorgement of ill-gotten gains from the unlawful conduct set forth in the Complaint, together with prejudgment interest; (3) civil penalties pursuant to Section 20(d) of the Securities Act [15 U.S.C. §77t(d)] and Section 21(d)(3) of the Exchange Act [15 U.S.C. §78u(d)(3)].

In addition, the Commission seeks: (1) a permanent injunction that would restrain Dar from directly or indirectly, including, but not limited to, through any entity owned or controlled by Dar, participating in the issuance, purchase, offer, or sale of any security, provided, however, that such injunction shall not prevent Dar from purchasing or selling securities for his own personal account; and (2) an officer and director bar pursuant to Section 21(d)(2) of the Exchange Act [15 U.S.C. §78u(d)(2)].