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SEC Charges Former CEO and CFO of ContinuityX Solutions for Defrauding Investors in Financial Fraud Scheme
SEC v. David P. Godwin and Anthony G. Roth; In the Matter of ContinuityX Solutions, Inc., Respondent
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Defendant executives allegedly inflated the revenues of ContinuityX Solutions Inc. by reporting fictitious sales. One such scheme involved hiring companies for straw purchases of services that would benefit the company. In another alleged scheme, one of the defendants simply fabricated service orders. The case was stayed pending criminal disposition at the time of this writing/summary. The registration of the entity’s securities was revoked in an administrative proceeding.
