Washington State DFI v. Anguluri, Innovative Investing Group - Statement of Charges

WA DFI Securities Enforcement

Filed December 31st, 2025

Detected February 27th, 2026

Summary

The Washington State Department of Financial Institutions Division of Securities issued a Statement of Charges against Prasad Anguluri and Innovative Investing Group Inc. for operating an unregistered investment adviser business and misleading investigators, seeking fines, disgorgement, and a cease and desist order.

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What changed

The Washington State Department of Financial Institutions Division of Securities has issued a Statement of Charges (S-23-3527-25-SC01) against Prasad Anguluri and Innovative Investing Group Inc. The respondents are accused of operating an unregistered investment adviser business from June 2022 to May 2025, collecting approximately $44,000 from 33 clients. Furthermore, they allegedly misled the Securities Division by falsely denying they were charging for services, despite continuing to do so.

This enforcement action seeks to impose penalties including a cease and desist order, fines, costs, disgorgement of funds, and denial of future registrations. The respondents have the right to request a hearing to contest the charges. Regulated entities should be aware of the strict requirements for registration and the consequences of providing misleading information during investigations.

What to do next

Review investment adviser registration status in Washington
Ensure accurate reporting to regulatory bodies
Consult legal counsel if operating as an investment adviser in Washington

Penalties

Cease and desist; Fines & costs; Disgorgement; Denial of future registrations

Source document (simplified)

Prasad Anguluri; Innovative Investing Group Inc. – Statement of Charges – S-23-3527-25-SC01

Case summary

On December 31, 2025, the Washington State Department of Financial Institutions Division of Securities entered a Statement of Charges (S-23-3527-25-SC01) against Prasad Anguluri; Innovative Investing Group Inc..

Order details

Order File: S-23-3527-25-SC01

Laws & Rules: RCW 21.20.020, RCW 21.20.040, WAC 460-24A-105, WAC 460-24A-220

Penalties/Remedies:

Intent to order:

Cease and desist;
Fines & costs;
Disgorgement;
Denial of future registrations

Allegations

From approximately June 2022 through at least May 2025, the Respondents operated an unregistered investment adviser business for compensation, receiving a net total of approximately $44,000 from 33 clients.
The Respondents misled the Securities Division during this investigation by falsely claiming that they were not charging for their services. In reality, they had been charging for services for at least the prior nine months, and continued to do so after their false claim to the Securities Division. The Respondents have a right to request a hearing on the Statement of Charges.