SEC
Whistleblower
Advocates

August 24, 2016

Secured Income Reserve, Inc., Ilona A. Mandelbaum, David A. Zimmerman, Matthew H. Sage, Tamda Marketing, Inc.

Offering Fraud

SANCTION AMOUNT: $3,191,457

Defendants: Secured Income Reserve, Inc., Tamda Marketing, Inc.
Ilona A. Mandelbaum, David A. Zimmerman, Matthew H. Sage

Settlement of allegations supporiting numerous violations, the gist of which was that individual defendants made material misstatements and omissions in the PPM for their purpoted investment vehicle Secured Income Reserve, Inc., which never had any business operations other than raising investor funds (to the tune of $1.45 million), which were misused in various ways.

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