Tax Liens and Class-Action Advances: SEC Sues Texas Attorney and Podcast Host Over Alleged $1.85 Million Offering Frauds

Published Oct. 12, 2026. Case statuses are current as of that date, based on SEC records.

One investor was told the money would advance settlement payments to class-action plaintiffs. Others were told it would buy tax liens on properties with delinquent taxes. The Securities and Exchange Commission says the money instead went to the promoter's own purposes and to Ponzi-like payments to other investors.

On Aug. 31, 2026, the SEC sued Texas attorney David T. Gilchrist and Texas-based podcast host Christopher "Aaron" Novinger in the U.S. District Court for the Northern District of Texas [1]. The case is SEC v. David T. Gilchrist, et al., No. 3:26-cv-02953-Z.

Important: The SEC's claims are allegations. Neither man has been found liable, and the release reports no settlement. The U.S. Attorney's Office for the Northern District of Texas has filed parallel criminal charges against Gilchrist, according to the SEC; he is presumed innocent of those charges. We found no public response from either man.

What the SEC alleges

According to the complaint, from at least March 2021 through at least October 2025, Gilchrist raised more than $1.85 million from at least 22 investors in four securities offerings [1]. The SEC alleges:

1. Two stories. Gilchrist told one investor the money would fund advances on class-action settlement payments, and told others it would buy tax liens.
2. Misappropriation. He instead misappropriated investor money for his own purposes.
3. Ponzi-like payments. He used money from some investors to pay others.

The SEC alleges Novinger solicited investors in two of the offerings. In one, he allegedly helped move investor money to Gilchrist and falsely told two investors that he had personally invested. The SEC says his conduct violated a 2016 SEC order that barred him from associating with a broker [1].

The charges

Both men are charged with violating Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5. Novinger is also charged with violating Exchange Act Sections 15(a) and 15(b)(6)(B)(i) and with aiding and abetting Gilchrist's alleged violations [1].

The complaint names Novinger's wife, Rebecca Novinger, as a relief defendant. A relief defendant is not accused of wrongdoing; the SEC names one to recover money it says she received from the alleged scheme without a legitimate claim to it. The SEC seeks disgorgement of those funds with prejudgment interest.

Why a professional title or a platform isn't a background check

A law license or a popular podcast can make a pitch feel safe. Neither is a license to sell securities. Before investing through someone you know from media, search them on Investor.gov and the SEC's site: a prior industry bar, like the 2016 order the SEC cites here, is public record.

How an SEC civil case works

The Securities and Exchange Commission is a civil regulator. It cannot send anyone to prison. When it sues, it asks a federal judge for remedies such as an injunction (a court order not to break the securities laws again), disgorgement (giving up money obtained through the alleged violations), prejudgment interest, civil penalties, and sometimes bars from serving as a company officer or director or from working in the securities industry. Criminal charges, when they exist, are brought separately by the Justice Department.

A complaint is the SEC's side of the story. Until a court rules, or a defendant settles, the claims in it are allegations. Many defendants settle "without admitting or denying" the allegations, which means they accept a judgment and its penalties without conceding that the SEC's account is accurate. A "consent" that is "subject to court approval" is not final until a judge signs it. A "bifurcated" settlement resolves liability and the injunction now while leaving the dollar amounts for the judge to decide later. A default judgment is entered when a defendant does not respond to the lawsuit; it is a ruling against that defendant, but it is not a finding after a trial.

Red flags in tax-lien and settlement-advance pitches

• High fixed returns from "safe" government-backed tax liens.
• No title documents, lien certificates or court records showing what you own.
• A promoter who says he invested too, without proof.
• A solicitor with a prior regulatory bar.

Before you hand anyone money for an investment

• Check the seller. Search the person and firm on Investor.gov and FINRA BrokerCheck. People who sell securities for commissions generally must be registered.
• Check the offering. Search the company name in the SEC's EDGAR database and your state securities regulator's enforcement actions.
• Treat "guaranteed" returns as a warning. Real investments carry risk. Promises of fixed monthly profits, or a guarantee that you can't lose your principal, are hallmarks of Ponzi-style schemes.
• Watch for pressure and secrecy. Deadlines, "sold out" claims, or requests to wire money to a personal or unfamiliar account deserve a pause.
• Ask how you get your money out. Excuses, delays, or new conditions when you try to withdraw are a serious red flag.

If you think you were affected

1. Save your records: account statements, wire confirmations, emails, texts and marketing materials.
2. Report it to the SEC at sec.gov/tcr and to your state securities regulator. If money was stolen, you can also report to the FBI at ic3.gov.
3. Follow the court case. If a receiver or fair fund is created, notices about claims are usually posted on the court docket or a receiver's website. The SEC does not charge fees to return money.
4. Beware of "recovery" offers. Scammers often target people who already lost money, promising to get it back for an upfront fee.

Case status (as of Oct. 12, 2026)

Defendant	Court	Status	Source
David T. Gilchrist	U.S. District Court, N.D. Tex. (No. 3:26-cv-02953-Z)	SEC civil complaint filed Aug. 31, 2026; allegations only; parallel criminal charges filed by N.D. Tex. U.S. Attorney (presumed innocent)	[1]
Christopher "Aaron" Novinger	Same	SEC civil complaint filed Aug. 31, 2026; allegations only	[1]
Rebecca Novinger (relief defendant)	Same	Named only as relief defendant; not accused of wrongdoing	[1]

Statuses can change. An SEC complaint contains allegations, not findings, unless a court has ruled.

Sources

1. U.S. Securities and Exchange Commission, Litigation Release No. 26624, "SEC Charges Texas Attorney and Texas-Based Podcast Host for Multiple Alleged Offering Frauds," Aug. 31, 2026. https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26624
2. SEC complaint. https://www.sec.gov/files/litigation/complaints/2026/comp26624.pdf

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Corrections and updates: If you are named in this article, or represent someone who is, and believe anything here is inaccurate or out of date (including a dismissal, judgment, settlement or change in case status), please contact us at editorandchief@scammers.com. We will review it and update the article promptly.