2026-01-30 sec-litreleases litigation_release 65 KB 2,475 chars

SEC v. Kevin A. Van de Grift, No. LR-26473, Southern District of New York (Jan. 30, 2026) — Press Release

raw: Kevin A. Van de Grift

Kevin A. Van de Grift, No. 1:23-cv-01491 (S.D.N.Y. Jan. 30, 2026)

Caption
Securities and Exchange Commission v. Van De Grift
Source PDF JSON
summary

CPA and day-trader Kevin A. Van de Grift obtained a final consent judgment for insider trading involving Verifone Systems, Inc. stock, resulting in significant financial penalties and professional bans.

paragraph

Kevin A. Van de Grift was charged with insider trading for utilizing nonpublic information regarding Francisco Partners’ acquisition of Verifone Systems, Inc. to realize $300,000 in profits. He consented to a judgment requiring $298,000 in disgorgement, $69,022.67 in prejudgment interest, and a $298,000 civil penalty. Additionally, Van de Grift faces a five-year bar from serving as a public company officer or director and a five-year suspension from practicing as an accountant before the SEC.

narrative

The SEC obtained a final consent judgment against CPA and day-trader Kevin A. Van de Grift for insider trading. Van de Grift received material nonpublic information from his friend, former consultant Gil Friedman, regarding Francisco Partners’ acquisition of Verifone Systems, Inc. Using this tip, Van de Grift purchased 60,000 shares of Verifone stock and earned approximately $300,000 in profit. To settle the enforcement action, Van de Grift agreed to pay $298,000 in disgorgement, $69,022.67 in interest, and a $298,000 civil penalty. He also received a five-year bar from serving as a public company officer or director and a five-year suspension from practicing as an accountant before the SEC. Friedman had previously settled his portion of the litigation.

Enriched metadata

Scheme
insider-trading (99%)
Court
Southern District of New York
Case No.
1:23-cv-01491
Outcome
settled · 2026-01-27
Disgorgement
$298,000
Civil penalty
$298,000
Victim loss
$300,000
Entity
Kevin A. Van de Grift
Classified insider-trading(confidence 99%). EDGAR detection: forms 4/3/5/144· recall 81% / precision 19%. detection rule →
Statutes
Rule 10b-5
Parties
Securities and Exchange CommissionKevin A. Van De GriftGil Friedman
Keywords
secvangriftsecurities exchangekevinsecuritiesexchangefinalfriedmanexchange commissionfinal consententry finalfrancisco partnerspublicjanuary

Exhibits & Attached Documents (1)

Extracted insights

Dollar amounts 4
  • $300K $300,000 $100K–$1M
  • $298K $298,000 $100K–$1M
  • $298K $298,000 $100K–$1M
  • $69K $69,022 $10K–$100K
Entities 6
  • agency assistance and cooperation of financial industry regulatory authority
  • person final judgment
  • person gil friendman
  • scheme_term kevin a. van de grift and gil friendman with insider trading
  • agency Securities and Exchange Commission
  • agency the sec’s litigation
Triples 15
  • Securities And Exchange Commission charged Kevin a. Van de Grift and Gil Friendman with insider trading
  • Gil Friendman tipped Kevin a. Van de Grift with material, nonpublic information concerning Francisco Partners' potential acquisition of Verifone Systems, Inc.
  • Kevin a. Van de Grift purchased 60,000 shares of Verifone stock from March 5, 2018 through March 9, 2018
  • Kevin a. Van de Grift sold all 60,000 shares of Verifone stock after the April 9, 2018 public announcement for a profit of approximately $300,000
  • Securities And Exchange Commission obtained final consent judgment against Kevin a. Van de Grift
  • Final Judgment enjoined Kevin a. Van de Grift from violating Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5
  • Final Judgment barred Kevin a. Van de Grift from serving as an officer or director of a public company for five years
  • Final Judgment ordered Kevin a. Van de Grift to pay disgorgement of $298,000 plus prejudgment interest of $69,022.67
  • Final Judgment imposed a civil penalty of $298,000 on Kevin a. Van de Grift
  • Kevin a. Van de Grift agreed to settle an administrative proceeding pursuant to Rule 102(e) of the SEC’s Rules of Practice
  • Securities And Exchange Commission suspended Kevin a. Van de Grift from appearing or practicing before the SEC as an accountant with right to reinstatement after five years
  • Gil Friendman settled the SEC’s litigation
  • Securities And Exchange Commission conducted litigation against Friedman and Van de Grift by Sharan Lieberman, Michael Cates, and James McDonald
  • Securities And Exchange Commission conducted investigation with Michael Cates, assisted by Daniel Konosky, supervised by Ian Karpel and Nicholas Heinke
  • Securities And Exchange Commission acknowledged assistance and cooperation of Financial Industry Regulatory Authority
PDF (from attached: complaint)
Complaint against Defendants Kevin A. Van de Grift (“Van de Grift”) and Gil Friedman · Source
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Extracted body text (2,475c) 
U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26473 / January 30, 2026Securities and Exchange Commission v. Kevin A. Van de Grift, No. 1:23-cv-01491 (S.D.N.Y. filed Feb. 22, 2023)SEC Obtains Final Consent Judgment as to CPA and Former Day-Trader Charged with Insider TradingThe Securities and Exchange Commission announced today the entry of a final consent judgment as to Kevin A. Van de Grift in the SEC’s civil enforcement action that charged Van de Grift, a day-trader and certified public accountant, and his close friend, Gil Friendman, with insider trading.According to the SEC’s complaint, filed in federal district court in New York, Friedman – a former consultant for Francisco Partners Management, L.P. – tipped Van de Grift with material, nonpublic information concerning Francisco Partners’ potential acquisition of Verifone Systems, Inc. The SEC alleged that based on Friedman’s tip, Van de Grift purchased 60,000 shares of Verifone stock from March 5, 2018 through March 9, 2018, and subsequently sold all of these shares the day after the April 9, 2018 public announcement of the acquisition agreement for a profit of approximately $300,000.Without admitting or denying the allegations, Van de Grift consented to the entry of a final judgment permanently enjoining him from violating the antifraud provisions of Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 thereunder, barring him from serving as an officer or director of a public company for five years, ordering him to pay disgorgement of $298,000 plus prejudgment interest of $69,022.67, and imposing a civil penalty of $298,000. The final judgment was entered by the Court on January 27, 2026.Van de Grift has also agreed to settle an administrative proceeding pursuant to Rule 102(e) of the SEC’s Rules of Practice, suspending him from appearing or practicing before the SEC as an accountant with the right to apply for reinstatement after five years.Mr. Friedman previously settled the SEC’s litigation.The SEC’s litigation against Friedman and Van de Grift was conducted by Sharan Lieberman, Michael Cates, and James McDonald and supervised by Gregory Kasper and Nicholas Heinke, all of the SEC’s Denver Regional Office. The SEC’s investigation was conducted by Mr. Cates, with assistance from Daniel Konosky, and was supervised by Ian Karpel and Mr. Heinke. The SEC acknowledges the assistance and cooperation of the Financial Industry Regulatory Authority.
OCR text (2,475c · html-text · 99% conf) 
U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26473 / January 30, 2026Securities and Exchange Commission v. Kevin A. Van de Grift, No. 1:23-cv-01491 (S.D.N.Y. filed Feb. 22, 2023)SEC Obtains Final Consent Judgment as to CPA and Former Day-Trader Charged with Insider TradingThe Securities and Exchange Commission announced today the entry of a final consent judgment as to Kevin A. Van de Grift in the SEC’s civil enforcement action that charged Van de Grift, a day-trader and certified public accountant, and his close friend, Gil Friendman, with insider trading.According to the SEC’s complaint, filed in federal district court in New York, Friedman – a former consultant for Francisco Partners Management, L.P. – tipped Van de Grift with material, nonpublic information concerning Francisco Partners’ potential acquisition of Verifone Systems, Inc. The SEC alleged that based on Friedman’s tip, Van de Grift purchased 60,000 shares of Verifone stock from March 5, 2018 through March 9, 2018, and subsequently sold all of these shares the day after the April 9, 2018 public announcement of the acquisition agreement for a profit of approximately $300,000.Without admitting or denying the allegations, Van de Grift consented to the entry of a final judgment permanently enjoining him from violating the antifraud provisions of Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 thereunder, barring him from serving as an officer or director of a public company for five years, ordering him to pay disgorgement of $298,000 plus prejudgment interest of $69,022.67, and imposing a civil penalty of $298,000. The final judgment was entered by the Court on January 27, 2026.Van de Grift has also agreed to settle an administrative proceeding pursuant to Rule 102(e) of the SEC’s Rules of Practice, suspending him from appearing or practicing before the SEC as an accountant with the right to apply for reinstatement after five years.Mr. Friedman previously settled the SEC’s litigation.The SEC’s litigation against Friedman and Van de Grift was conducted by Sharan Lieberman, Michael Cates, and James McDonald and supervised by Gregory Kasper and Nicholas Heinke, all of the SEC’s Denver Regional Office. The SEC’s investigation was conducted by Mr. Cates, with assistance from Daniel Konosky, and was supervised by Ian Karpel and Mr. Heinke. The SEC acknowledges the assistance and cooperation of the Financial Industry Regulatory Authority.

Related documents (1)