Family relationships become strained as Ateliere comes under scrutiny by SEC

The inbox at Faultline has been overflowing with details concerning Ateliere Creative Technologies. Extensive investigative work has led to the unveiling of an official inquiry by the US Securities and Exchange Commission (SEC) into potential fraudulent behavior by the media asset management organization. Ateliere has been touting its ability to ingest and distribute content significantly faster and more cost-effectively than its competitors, boasting that it can achieve these feats up to 2000 times faster and 80% cheaper than others in the field. In a bid to broaden its horizons beyond media-focused endeavors, Ateliere is reportedly considering either a merger or an initial public offering (IPO), with a particular interest in branching out into areas such as surveillance and healthcare services.

Despite the recent SEC probe, it is worth noting that the investigation does not directly implicate the former CEO Dan Goman. Instead, the focus has shifted towards Mariana Bortis, the mother of the company’s interim CEO, David Bortis. Shockingly, David Bortis had been forcibly removed from his position following some serious internal allegations of insubordination. Mariana Bortis, a pivotal figure in an “aggregator” capacity at Ateliere, is being accused of engaging in deceptive actions with investors through a subinvestor scheme. Allegations suggest that she had transferred funds exceeding $8 million between 2021 and 2024, while also selling 2 million Ateliere shares to another investor during March and April 2025.

Since its inception in the Spring of 2021, operating initially as OwnZones Media Network before being acquired by Ateliere, the company has managed to secure over $60 million in external investments. However, the SEC claims that these funds were raised through a subinvestor scheme, as previously hinted at by undisclosed sources cited by Faultline. A subinvestor scheme, which repackages numerous smaller investments as direct ones from fewer investors, can be seen as an attempt to circumvent certain federal securities registration requirements. While not inherently illegal, such schemes can result in serious legal repercussions depending on how they align with US securities regulations.

Notably, OwnZones, Ateliere’s predecessor, has a murky past. In 2020, the SEC sued OwnZones over a comparable subinvestor scheme. Just a year later, a district court sided with the SEC, concluding that OwnZones had transgressed critical securities laws, including antifraud provisions and registration provisions. This legal ruling effectively prevented OwnZones from repeating any analogous violations in the future, under the threat of legal sanctions or fines. If Ateliere is found culpable of repeating a similar offense through the Bortis subinvestor scheme, the repercussions could be dire, extending potentially to other company executives or board members.

Given Dan Goman’s history with a previous subinvestor scheme, he may have been aware of the nefarious activities being orchestrated within the Bortis family. This perceived complicity could explain the fallout between Ateliere and its erstwhile plans to acquire CodeMill earlier this year. Despite the tarnished reputation, there are reports of grand aspirations within Ateliere’s ranks. Goman has surreptitiously resurfaced at Ateliere, accompanied by a new investor, with intentions to resurrect the company and drive its expansion into surveillance and healthcare domains. Investors have been tantalized with the prospect of an imminent IPO that promises substantial profits.

Additionally, Goman has been engaged in outreach efforts to reassure customers, including major names like MGM, Amazon Prime Video, Magnolia, and Pokémon. Nevertheless, there remains uncertainty surrounding Ateliere’s operational capacity following a significant reduction of its workforce by nearly 80%. One of Ateliere’s significant clients, Viaplay, moved swiftly to disassociate from the company upon learning about internal upheaval and potential legal entanglements, severing ties with Ateliere’s Media Asset Management services in just two weeks.

In the wake of the tumultuous events, BT, another client, has ostensibly expressed a willingness to continue collaborating with Ateliere under the condition that the company divest its product portfolio, including VoD packaging, distribution, video deduplication, disaster recovery solutions, and Media Asset Management tools, to an external entity. However, there is uncertainty regarding the veracity of these claims regarding BT.

Ateliere stands accused of misleading investors with promises of exorbitant returns, prompting the SEC to investigate potential duplicitous conduct and identify the parties responsible for this deception. Mariana Bortis appears to be a focal point in this ongoing inquiry, as she has been the subject of a recent administrative subpoena. The SEC’s scrutiny intensified after Bortis failed to comply with an investigative subpoena issued in February 2025. Unless Bortis cooperates and furnishes the requested documents related to her dealings with Ateliere, she could face further legal ramifications, potentially involving