Shiloh Luckey, the founder and former CEO of Los Angeles-based tax-compliance startup ComplYant, is under federal investigations by the FBI and U.S. Attorney’s Office amid allegations that she used venture capital funds to purchase a house and pay for a wedding in the Caribbean, Business Insider reports.
Luckey is facing accusations of securities and bank fraud by the Securities and Exchange Commission (SEC), as well as violating securities laws, by using millions of dollars of company funds to pay for Super Bowl tickets, buy a home, and pay for a Caribbean destination wedding.
A civil complaint, according to FX News Group
, alleges Luckey raised over $13 million from venture capital investors between October 2020 and September 2023 under false pretenses regarding ComplYant’s commercial success of its software product, in addition to her qualifications to run the company. Federal agents allege that the former CEO falsely labeled herself a licensed Certified Public Accountant (CPA), claiming extensive knowledge and experience in tax management, supervision, and accounting compliance.As ComplYant operated as an online technology company offering software services for small business owners to track and manage tax responsibilities, the complaint alleges Luckey, once known by her maiden name of Johnson, would continuously overstate both ComplYant’s revenue and the company’s subscriber base to lure in investors.
It was revealed that she was not a licensed CPA.
In addition to her lucrative salary, Luckey pocketed roughly $2.2 million of raised investor funds, allegedly using the money for luxury vacations to places including Aspen, Turks and Caicos, and Lisbon. Her scheme came to light when ComplYant ran out of cash and abruptly ceased operations in mid-September 2023 despite having raised $750,000 from two new investors in June and September.
Experts say startups that run into criminal negligence often face less regulatory scrutiny than
public companies. SEC Regional Director Monique Winkler said the story was painted for the world to see in high-profile cases such as Theranos, once run by disgraced Silicon Valley icon Elizabeth Holmes. “Startup founders cannot fake it until they make it by falsifying revenue metrics,” Winkler warned.Under Luckey’s leadership, she hired more than 50 employees, but when the company failed, she cut off all contact with them, leaving former employees without final paychecks for seven weeks. Some checks had missing funds from 401(k) contributions.
However, court proceedings have not seemed to stop Luckey from conducting business. She is often seen on TikTok providing financial and tax advice to her 23,000-plus followers.
Records show that in October 2025, she started a new startup called HabitLoop, described as a digital financial assistant for money management.
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