{"investigation":{"slug":"star-credit-holdings-misam-m-abidi","entity_name":"Star Credit Holdings / Misam M. Abidi","trust_score":26,"severity_base":26,"score_modifier":0,"confidence":0.95,"status":"published","content_type":"investigation","summary":"Misam M. Abidi of Nolensville, Tennessee operated Star Credit Holdings, a cryptocurrency investment firm federal prosecutors allege was a Ponzi scheme that defrauded investors nationwide between 2020 and 2024. He was indicted on 11 federal counts in June 2026 and was separately sued by Tennessee state regulators in May 2024 alongside co-defendants Anisha Abidi and Ali Raza Galani and related entities NumisMe LLC and Satori Credit Solutions LLC. Abidi is also an independent candidate for Tennessee governor in the November 2026 general election; the charges are allegations that have not been proven in court and he has not been convicted.","sections":[{"content":"On June 12, 2026, the U.S. Attorney's Office for the Western District of Tennessee announced that a federal grand jury had returned an 11-count indictment against Misam M. Abidi, 47, of Nolensville, Tennessee. The counts are three of wire fraud, two of operating an unlicensed money transmitting business, three of aiding in the preparation of false tax returns, and three of money laundering. U.S. Attorney D. Michael Dunavant stated that 'Ponzi schemes, cryptocurrency scams, and financial fraud can be devastating to individual investors.' IRS-CI Special Agent in Charge Donald 'Trey' Eakins said that 'schemes that rely on deception, fictitious investment statements, and the misuse of loan proceeds undermine the integrity' of the financial system. If convicted on all counts, Abidi faces a statutory maximum of 20 years per wire fraud count, 5 years per unlicensed money transmitting count, 3 years per false tax return count, and 10 years per money laundering count, though an indictment is only an accusation and the charges have not been proven in court.","heading":"Federal Indictment (June 2026)","sources":[{"url":"https://www.irs.gov/compliance/criminal-investigation/middle-tennessee-man-indicted-for-crypto-ponzi-scheme","name":"IRS Criminal Investigation — Middle Tennessee man indicted for crypto Ponzi scheme","type":"regulatory","credibility":1},{"url":"https://decrypt.co/370943/tennessee-man-indicted-crypto-ponzi-scheme-stole-millions-investors","name":"Decrypt — Tennessee Man Indicted for Alleged Crypto Ponzi Scheme That Stole Millions From Investors","type":"news_article","credibility":2},{"url":"https://justice.gov/usao-wdtn/pr/middle-tennessee-man-indicted-crypto-ponzi-scheme","name":"U.S. Attorney's Office, W.D. Tenn. — Middle Tennessee man indicted for crypto Ponzi scheme","type":"regulatory","credibility":1}],"severity":"critical"},{"content":"Prosecutors allege Abidi operated Star Credit Holdings as a Ponzi scheme from 2020 to 2024. He allegedly promised investors guaranteed high returns, claimed to hold a large reserve fund to cover losses, and overstated the amount of capital he actually managed. He allegedly issued investors fictitious account statements and paid 'returns' using other investors' principal rather than trading profits. Separately, the Tennessee Department of Commerce and Insurance (TDCI) and the state Attorney General alleged that most investor losses flowed through a 'STAR Investment Club' and the sale of a cryptocurrency token called NUME, which the complaint says Galani and the Abidis fully owned and controlled. Federal prosecutors also allege that Abidi arranged for investors to take out personal loans in their own names to channel more money into the firm, and that he falsified at least one affidavit claiming an investor's identity had been stolen in order to obtain such a loan. He is also alleged to have failed to report Star Credit Holdings income on his federal tax returns. No independent on-chain or wallet-level forensic analysis of the NUME token has been published by investigators or journalists as of this writing.","heading":"Alleged Scheme Mechanics","sources":[{"url":"https://www.irs.gov/compliance/criminal-investigation/middle-tennessee-man-indicted-for-crypto-ponzi-scheme","name":"IRS Criminal Investigation — Middle Tennessee man indicted for crypto Ponzi scheme","type":"regulatory","credibility":1},{"url":"https://www.gncrypto.news/news/tennessee-man-indicted-1-9m-crypto-ponzi-case/","name":"GN Crypto News — Tennessee Man Indicted in $1.9M Crypto Ponzi Case","type":"news_article","credibility":2},{"url":"https://www.tn.gov/commerce/news/2024/5/6/tdci-tn-ag-take-legal-action-to-protect-consumers-in-case-involving-star-credit-holdings-numisme-misam-and-anisha-abidi-and-raza-galani.html","name":"Tennessee Dept. of Commerce & Insurance — TDCI, TN AG Take Legal Action to Protect Consumers in Case Involving Star Credit Holdings, NumisMe, Misam and Anisha Abidi, and Raza Galani","type":"regulatory","credibility":1}],"severity":"critical"},{"content":"Roughly two years before the federal indictment, the TDCI Securities Division and the Tennessee Attorney General's Office obtained a court order freezing bank accounts and other financial assets tied to Star Credit Holdings LLC, NumisMe LLC, and Satori Credit Solutions LLC, naming Misam Abidi, Anisha Abidi, and Ali Raza Galani as defendants. The case was filed in Davidson County Chancery Court (Carter Lawrence, Commissioner of TDCI v. Star Credit Holdings LLC, et al., docket no. 23-1555-I). The state alleged the defendants engaged in fraudulent activity and acted as unregistered broker-dealers and investment advisers. Local television coverage described the court action as an injunction approved to freeze assets tied to the Memphis-based investment operation. Court records show the state case remained active well into 2025: a hearing on the state's motion to appoint a receiver over the frozen assets was docketed for January 29, 2025. Satori Credit Solutions LLC is named as a credit-repair-related entity in the TDCI complaint; its precise business address could not be independently confirmed, as the only business record found for the name lists a different city than reporting on the case, and the primary TDCI press release could not be retrieved directly due to access restrictions.","heading":"Prior State Regulatory Action (May 2024)","sources":[{"url":"https://www.tn.gov/commerce/news/2024/5/6/tdci-tn-ag-take-legal-action-to-protect-consumers-in-case-involving-star-credit-holdings-numisme-misam-and-anisha-abidi-and-raza-galani.html","name":"Tennessee Dept. of Commerce & Insurance — TDCI, TN AG Take Legal Action to Protect Consumers in Case Involving Star Credit Holdings, NumisMe, Misam and Anisha Abidi, and Raza Galani","type":"regulatory","credibility":1},{"url":"https://localmemphis.com/article/news/local/injunction-approved-for-state-regarding-memphis-based-investment/522-e6026874-acbd-4632-b8f4-9a3e3bf5987e","name":"LocalMemphis (WREG) — Injunction approved for state regarding Memphis-based investment","type":"news_article","credibility":2},{"url":"https://chanceryclerkandmaster.nashville.gov/?p=19762","name":"Davidson County Chancery Clerk & Master — Trial Dockets, January 29, 2025","type":"court_filing","credibility":1}],"severity":"high"},{"content":"The federal indictment names only Misam Abidi. The earlier state civil action, however, named additional co-defendants and entities: Anisha Abidi and Ali Raza Galani as individuals, and Star Credit Holdings LLC, NumisMe LLC, and Satori Credit Solutions LLC as corporate entities. The TDCI complaint alleges Galani and the Abidis jointly owned and controlled the NUME token used to solicit investor funds. These co-defendants face only the state civil case to date; no public source reviewed indicates that Anisha Abidi or Galani have been charged federally. A claim in earlier drafts that 'NumisMe LLC' appears in some filings as 'Nusime LLC' could not be verified against any accessible filing or news report and is not repeated here.","heading":"Related Entities and Co-Defendants","sources":[{"url":"https://www.tn.gov/commerce/news/2024/5/6/tdci-tn-ag-take-legal-action-to-protect-consumers-in-case-involving-star-credit-holdings-numisme-misam-and-anisha-abidi-and-raza-galani.html","name":"Tennessee Dept. of Commerce & Insurance — TDCI, TN AG Take Legal Action to Protect Consumers in Case Involving Star Credit Holdings, NumisMe, Misam and Anisha Abidi, and Raza Galani","type":"regulatory","credibility":1},{"url":"https://tnfirefly.com/tennessee-governor-race/candidates/misam-abidi","name":"Tennessee Firefly — 2026 Candidate: Misam Abidi","type":"other","credibility":2}],"severity":"medium"},{"content":"According to the May 2024 TDCI complaint, investors in 17 states put more than $6.3 million into the alleged scheme. The complaint states that Wyoming investors lost over $2.4 million and California investors lost roughly $1.14 million, the two largest state totals identified, while Tennessee investors are believed to have lost more than $250,000. The federal indictment covers a narrower, overlapping allegation: that Abidi personally diverted more than $1.9 million of investor funds to himself and his family between 2020 and 2024. The relationship between the $6.3 million state-alleged total and the $1.9 million federal diversion figure is not addressed in any source reviewed; they appear to measure different things (total investor losses vs. funds Abidi is alleged to have personally diverted) rather than being inconsistent.","heading":"Investor Losses and Geographic Scope","sources":[{"url":"https://www.tn.gov/commerce/news/2024/5/6/tdci-tn-ag-take-legal-action-to-protect-consumers-in-case-involving-star-credit-holdings-numisme-misam-and-anisha-abidi-and-raza-galani.html","name":"Tennessee Dept. of Commerce & Insurance — TDCI, TN AG Take Legal Action to Protect Consumers in Case Involving Star Credit Holdings, NumisMe, Misam and Anisha Abidi, and Raza Galani","type":"regulatory","credibility":1},{"url":"https://www.irs.gov/compliance/criminal-investigation/middle-tennessee-man-indicted-for-crypto-ponzi-scheme","name":"IRS Criminal Investigation — Middle Tennessee man indicted for crypto Ponzi scheme","type":"regulatory","credibility":1}],"severity":"high"},{"content":"Abidi is running as an independent candidate for Governor of Tennessee in the November 3, 2026 general election, having qualified by petition. He lives in Nolensville, Williamson County, and has described his occupation as a credit consultant with prior experience as a personal banker at Bank of America. His campaign, under the slogan 'People Over Institutions,' centers on due-process reform, a proposed 'Tennessee Dividend Fund' or sovereign wealth fund, pro-crypto and blockchain-friendly state policy, healthcare cost reduction through a reinsurance program, and a 'Tennessee Skills Guarantee' requiring students to graduate with a marketable skill. A campaign-aligned press release states that businesses he was involved with faced state enforcement actions and had assets frozen, and that he sold his home to cover legal costs; it does not name the federal charges or the TDCI case directly. News coverage (WREG, as cited by a Tennessee elections tracking site) connected the June 2026 federal indictment of 'Misam M. Abidi of Nolensville' to the gubernatorial candidate of the same name and city. As of this writing, no independent reporting indicates that the indictment or the pending state case has removed him from the ballot. A claim that his campaign materials describe him as having immigrated to the United States from Lahore, Pakistan, in 1997 could not be independently verified in any accessible campaign, Ballotpedia, or voter-guide source, and is not repeated here.","heading":"Gubernatorial Campaign","sources":[{"url":"https://ballotpedia.org/Misam_Abidi","name":"Ballotpedia — Misam Abidi","type":"other","credibility":2},{"url":"https://www.ballotready.org/people/misam-abidi","name":"BallotReady — Misam Abidi","type":"other","credibility":2},{"url":"https://tnfirefly.com/tennessee-governor-race/candidates/misam-abidi","name":"Tennessee Firefly — 2026 Candidate: Misam Abidi","type":"other","credibility":2},{"url":"https://thenyjournal.com/misam-abidi-launches-tennessee-governor-campaign-centered-on-due-process-rights-and-economic-reform/","name":"The NY Journal — Misam Abidi Launches Tennessee Governor Campaign Centered on Due Process Rights and Economic Reform","type":"other","credibility":3}],"severity":"medium"},{"content":"The federal case was investigated by IRS Criminal Investigation (lead agency), the Federal Bureau of Investigation, and the United States Secret Service, and is being prosecuted by the U.S. Attorney's Office for the Western District of Tennessee, with Assistant U.S. Attorney William Carey Bateman III handling the prosecution. The parallel civil matter was brought by the Tennessee Department of Commerce and Insurance's Securities Division together with the Tennessee Attorney General's Office in Davidson County Chancery Court.","heading":"Investigating Agencies","sources":[{"url":"https://www.irs.gov/compliance/criminal-investigation/middle-tennessee-man-indicted-for-crypto-ponzi-scheme","name":"IRS Criminal Investigation — Middle Tennessee man indicted for crypto Ponzi scheme","type":"regulatory","credibility":1},{"url":"https://justice.gov/usao-wdtn/pr/middle-tennessee-man-indicted-crypto-ponzi-scheme","name":"U.S. Attorney's Office, W.D. Tenn. — Middle Tennessee man indicted for crypto Ponzi scheme","type":"regulatory","credibility":1},{"url":"https://www.tn.gov/commerce/news/2024/5/6/tdci-tn-ag-take-legal-action-to-protect-consumers-in-case-involving-star-credit-holdings-numisme-misam-and-anisha-abidi-and-raza-galani.html","name":"Tennessee Dept. of Commerce & Insurance — TDCI, TN AG Take Legal Action to Protect Consumers in Case Involving Star Credit Holdings, NumisMe, Misam and Anisha Abidi, and Raza Galani","type":"regulatory","credibility":1}],"severity":"low"}],"timeline":[{"date":"2020","event":"Misam Abidi allegedly begins operating Star Credit Holdings as a Ponzi scheme, according to federal prosecutors.","source":"IRS Criminal Investigation","source_url":"https://www.irs.gov/compliance/criminal-investigation/middle-tennessee-man-indicted-for-crypto-ponzi-scheme"},{"date":"2024-05","event":"Tennessee's TDCI Securities Division and the state Attorney General obtain a court order freezing assets of Star Credit Holdings, NumisMe, Satori Credit Solutions, Misam Abidi, Anisha Abidi, and Ali Raza Galani, alleging over $6.3 million in investor losses across 17 states.","source":"Tennessee Dept. of Commerce & Insurance","source_url":"https://www.tn.gov/commerce/news/2024/5/6/tdci-tn-ag-take-legal-action-to-protect-consumers-in-case-involving-star-credit-holdings-numisme-misam-and-anisha-abidi-and-raza-galani.html"},{"date":"2024","event":"Alleged Ponzi scheme period ends, according to the federal indictment.","source":"IRS Criminal Investigation","source_url":"https://www.irs.gov/compliance/criminal-investigation/middle-tennessee-man-indicted-for-crypto-ponzi-scheme"},{"date":"2025-01-29","event":"Davidson County Chancery Court dockets a hearing on the state's motion to appoint a receiver over the frozen Star Credit Holdings assets.","source":"Davidson County Chancery Clerk & Master","source_url":"https://chanceryclerkandmaster.nashville.gov/?p=19762","date_evidence":"Trial Dockets - January 29, 2025 ... Carter Lawrence, Commissioner of TN Dept of Commerce & Insurance vs. Star Credit Holdings LLC, et al. Docket No. 23-1555-I ... Plaintiff's Motion to Appoint Receiver"},{"date":"2026-05-11","event":"Abidi announces his independent campaign for Tennessee governor.","source":"The NY Journal","source_url":"https://thenyjournal.com/misam-abidi-launches-tennessee-governor-campaign-centered-on-due-process-rights-and-economic-reform/","date_evidence":"He announced a run for Tennessee governor on May 11, 2026"},{"date":"2026-06-12","event":"A federal grand jury in the Western District of Tennessee returns an 11-count indictment against Misam M. Abidi for wire fraud, operating an unlicensed money transmitting business, aiding false tax returns, and money laundering.","source":"IRS Criminal Investigation / U.S. Attorney's Office, W.D. Tenn.","source_url":"https://www.irs.gov/compliance/criminal-investigation/middle-tennessee-man-indicted-for-crypto-ponzi-scheme","date_evidence":"Date: June 12, 2026"},{"date":"2026-11","event":"Tennessee general election, in which Abidi appears on the ballot as an independent candidate for governor while federal charges and the state civil case remain pending.","source":"Ballotpedia","source_url":"https://ballotpedia.org/Misam_Abidi","date_original":"2026-11-03"}],"sources_used":[{"url":"https://www.irs.gov/compliance/criminal-investigation/middle-tennessee-man-indicted-for-crypto-ponzi-scheme","name":"IRS Criminal Investigation — Middle Tennessee man indicted for crypto Ponzi scheme","type":"regulatory","archive_url":"http://web.archive.org/web/20261016133110/https://www.irs.gov/compliance/criminal-investigation/middle-tennessee-man-indicted-for-crypto-ponzi-scheme","credibility":1,"archive_timestamp":"2026-10-16T13:31:10+00:00"},{"url":"https://justice.gov/usao-wdtn/pr/middle-tennessee-man-indicted-crypto-ponzi-scheme","name":"U.S. Attorney's Office, W.D. Tenn. — Middle Tennessee man indicted for crypto Ponzi scheme","type":"regulatory","archive_url":"http://web.archive.org/web/20261027111329/https://www.justice.gov/usao-wdtn/pr/middle-tennessee-man-indicted-crypto-ponzi-scheme","credibility":1,"archive_timestamp":"2026-10-27T11:13:29+00:00"},{"url":"https://decrypt.co/370943/tennessee-man-indicted-crypto-ponzi-scheme-stole-millions-investors","name":"Decrypt — Tennessee Man Indicted for Alleged Crypto Ponzi Scheme That Stole Millions From Investors","type":"news_article","archive_url":"http://web.archive.org/web/20261016142411/https://decrypt.co/370943/tennessee-man-indicted-crypto-ponzi-scheme-stole-millions-investors","credibility":2,"archive_timestamp":"2026-10-16T14:24:11+00:00"},{"url":"https://www.gncrypto.news/news/tennessee-man-indicted-1-9m-crypto-ponzi-case/","name":"GN Crypto News — Tennessee Man Indicted in $1.9M Crypto Ponzi Case","type":"news_article","archive_url":"https://web.archive.org/web/20261106094246/https://www.gncrypto.news/news/tennessee-man-indicted-1-9m-crypto-ponzi-case/","credibility":2,"archive_timestamp":"2026-11-06T09:42:46+00:00"},{"url":"https://www.tn.gov/commerce/news/2024/5/6/tdci-tn-ag-take-legal-action-to-protect-consumers-in-case-involving-star-credit-holdings-numisme-misam-and-anisha-abidi-and-raza-galani.html","name":"Tennessee Dept. of Commerce & Insurance — TDCI, TN AG Take Legal Action to Protect Consumers in Case Involving Star Credit Holdings, NumisMe, Misam and Anisha Abidi, and Raza Galani","type":"regulatory","archive_url":"http://web.archive.org/web/20261012072608/https://www.tn.gov/commerce/news/2024/5/6/tdci-tn-ag-take-legal-action-to-protect-consumers-in-case-involving-star-credit-holdings-numisme-misam-and-anisha-abidi-and-raza-galani.html","credibility":1,"archive_timestamp":"2026-10-12T07:26:08+00:00"},{"url":"https://localmemphis.com/article/news/local/injunction-approved-for-state-regarding-memphis-based-investment/522-e6026874-acbd-4632-b8f4-9a3e3bf5987e","name":"LocalMemphis (WREG) — Injunction approved for state regarding Memphis-based investment","type":"news_article","archive_url":null,"credibility":2,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://chanceryclerkandmaster.nashville.gov/?p=19762","name":"Davidson County Chancery Clerk & Master — Trial Dockets, January 29, 2025","type":"court_filing","archive_url":"https://web.archive.org/web/20261106085426/https://chanceryclerkandmaster.nashville.gov/mc-events/part-i-2521/","credibility":1,"archive_timestamp":"2026-11-06T08:54:26+00:00"},{"url":"https://ballotpedia.org/Misam_Abidi","name":"Ballotpedia — Misam Abidi","type":"other","archive_url":"http://web.archive.org/web/20260723135511/https://ballotpedia.org/Misam_Abidi","credibility":2,"archive_timestamp":"2026-07-23T13:55:11+00:00"},{"url":"https://www.ballotready.org/people/misam-abidi","name":"BallotReady — Misam Abidi","type":"other","archive_url":"https://web.archive.org/web/20261106090609/https://www.ballotready.org/people/misam-abidi","credibility":2,"archive_timestamp":"2026-11-06T09:06:09+00:00"},{"url":"https://tnfirefly.com/tennessee-governor-race/candidates/misam-abidi","name":"Tennessee Firefly — 2026 Candidate: Misam Abidi","type":"other","archive_url":"http://web.archive.org/web/20261013221652/https://tnfirefly.com/tennessee-governor-race/candidates/misam-abidi","credibility":2,"archive_timestamp":"2026-10-13T22:16:52+00:00"},{"url":"https://thenyjournal.com/misam-abidi-launches-tennessee-governor-campaign-centered-on-due-process-rights-and-economic-reform/","name":"The NY Journal — Misam Abidi Launches Tennessee Governor Campaign Centered on Due Process Rights and Economic Reform","type":"other","archive_url":"https://web.archive.org/web/20261106090321/https://thenyjournal.com/misam-abidi-launches-tennessee-governor-campaign-centered-on-due-process-rights-and-economic-reform/","credibility":3,"archive_timestamp":"2026-11-06T09:03:21+00:00"}],"source_tags":[],"addresses":[],"reviewed":true,"reviewed_by":null,"model_used":"claude-code-investigator","created_at":"2026-06-29T12:26:34.002024+00:00","updated_at":"2026-11-06T12:53:17.50745+00:00"},"source_quality":{"total":11,"tier1":4,"tier2":1,"tier3":0,"unrated":6},"follower_count":null,"content_updated_at":"2026-11-03T23:27:58.857Z","last_fact_checked_at":"2026-11-03T23:27:58.049Z","fact_check_next_allowed_at":null,"update_next_allowed_at":null}