Gökçe Güven, founder and former Chief Executive Officer of Kalder Inc., pled guilty on May 15 to one count of securities fraud related to a scheme that defrauded investors in the technology startup. The plea was entered before U.S. Magistrate Judge Sarah Netburn, and Güven agreed to forfeit nearly $7 million obtained from the illegal activity.
The case highlights concerns about honesty and transparency in startup fundraising, as more than a dozen venture capital investors were misled by false statements regarding Kalder’s revenue and business partnerships. United States Attorney for the Southern District of New York Jay Clayton said, “Gökçe Güven defrauded more than a dozen venture capital investors through material misrepresentations about Kalder’s revenue and brand partners, then lied to obtain an immigration benefit. In our startup markets, ambition is not a substitute for honesty. If you lie to investors in any market—public or private; venture or late-stage growth; fintech; biotech; energy; financial services; industrial; etc.—you will be held accountable.”
According to court filings, Güven promoted Kalder as a platform enabling brands to create customized reward programs but provided potential investors with misleading claims and fabricated documents about the company’s financial health. The pitch deck sent out by Güven overstated the number of brands using Kalder’s services and inflated recurring revenue figures. Additionally, she maintained two sets of financial records: one accurate set prepared by an outside accounting firm and another falsified set shared with investors.
The investigation also revealed that Güven submitted false information during her O-1A visa application process after her student visa expired. She included forged letters of support from business executives without their consent.
Güven faces up to five years in prison for securities fraud. Sentencing is scheduled before U.S. District Judge Lewis A. Kaplan on September 17, 2026.
Clayton praised the work of federal investigators involved in the case and noted appreciation for assistance from the Securities and Exchange Commission. The prosecution is being led by Assistant U.S. Attorneys Allison Nichols and Alexandra N. Rothman within the Securities and Commodities Fraud Task Force.
