A sanction from the regulator will say that the issuer "sold to investors without registering the security with the regulatory body" or "without an applicable exemption", because the issuer tried to rely on an exemption but the regulatory disagreed. Not all the reasons that the regulator disagreed will be stated.

Sorry man, not everything that occurs and why it occurs is on Google for your independent review. You just have to talk to people, and lawyers, and come to an average-right conclusion.

Maybe there is some blog somewhere about someone talking about their fine from the SEC or a case study, but its unlikely because people don't want to out themselves like that, or typically settlements (in general, not necessarily with regulator) bar people from talking about them.

"sold to investors without registering the security with the regulatory body" I knew you would say that, because there are countless judgements against companies to be easily found with that exact scenario. That's actually not the same situation as finding out a non accredited individual was allowed to purchase a security in a private offering. And "without an applicable exemption" is too vague and can mean anything. No way to know.