The Securities and Exchange Commission (SEC) charged Coral Springs, Florida, The Diamond Desk Corporation and its sole owner and principal, Adam J..Lowe filed charges that they raised about $2.2 million from at least nine investors through a fraudulent investment scheme involving natural color diamonds.。

The SEC's allegations allege that between at least February 2018 and February 2019, Lowe provided and sold securities on behalf of Diamond Desk in the form of investment contracts and falsely told investors that Diamond Desk would use investors' funds to acquire batches of natural colored diamonds for resale profits, with a return on investment of up to 27% and return the investor's principal in full within 3 to 12 months.。

Instead of using investors' funds exclusively to buy natural colored diamonds for resale, as promised, Lowe allegedly misappropriated at least 92.$40,000 in investor funds for personal expenses and benefits, including financing his gambling at the casino。

The SEC filed a lawsuit with the U.S. District Court for the Southern District of Florida alleging that Diamond Desk and Lowe violated the anti-fraud provisions of Section 17 (a) of the Securities Act of 1933 and Section 10 (b) of the Securities Exchange Act of 1934, as well as Rule 10b-5, and alleging that Lowe incurred controller liability under Section 20 (a) of the Exchange Act.。

The committee requested permanent injunctive relief for Lowe, confiscation of alleged illegal gains plus prepaid interest, civil penalties, conduct-based injunctions, and a ban on serving as an executive and director.。