SEC v. JOHN FERNANDEZ, No. 4:22-cv-04365, Southern District of Texas (Apr. 14, 2026) — Press Release
raw: John Fernandez, Avail Progression, LLC, and Elite Generators, LLC
John Fernandez, Avail Progression, LLC, and Elite Generators, LLC, No. 4:22-cv-04365
John Fernandez and his companies, Avail Progression, LLC and Elite Generators, LLC, defrauded investors by promising guaranteed forex returns but used funds for Ponzi payments and personal expenses, resulting in a final SEC judgment ordering $6.6M in disgorgement and interest plus a $472K civil penalty and permanent bans on securities participation and corporate leadership.
John Fernandez, along with his controlled companies Avail Progression, LLC and Elite Generators, LLC, orchestrated a forex investment fraud by falsely promising investors guaranteed returns, while diverting over $5 million in funds for Ponzi payments and personal expenses. The U.S. District Court for the Southern District of Texas entered a final judgment on April 14, 2026, permanently enjoining the defendants from violating securities laws, barring Fernandez from participating in any securities offerings or serving as a public company officer or director, and ordering joint disgorgement of $5,002,383 and prejudgment interest of $1,626,707.93, plus a $472,902 civil penalty against Fernandez alone. The SEC’s Fort Worth Regional Office investigated the case, with litigation led by Tyson M. Lies and Matthew J. Gulde.
John Fernandez and his companies, Avail Progression, LLC and Elite Generators, LLC, defrauded investors by promising guaranteed returns from forex trading, when in reality no legitimate trading occurred. Instead, Fernandez used the majority of investor funds to make Ponzi payments to earlier investors and to finance his personal expenses, as alleged in the SEC’s December 16, 2022 complaint. On April 14, 2026, the U.S. District Court for the Southern District of Texas entered a final judgment against the defendants, permanently enjoining them from violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The judgment also permanently barred Fernandez from participating in the issuance, offer, purchase, or sale of any security except for his own personal accounts, and prohibited him from serving as an officer or director of any public company. The defendants were ordered to pay joint disgorgement of $5,002,383.00 and prejudgment interest of $1,626,707.93, while Fernandez alone was assessed a civil penalty of $472,902.00. The SEC’s investigation was conducted by Jillian Harris and Carol Hahn of the Fort Worth Regional Office, with litigation led by Tyson M. Lies and Matthew J. Gulde under the supervision of Keefe Bernstein.
Extracted insights
- $5.00M $5,002,383 $1M–$10M
- $1.63M $1,626,707 $1M–$10M
- $473K $472,902 $100K–$1M
- company acting as officer or director of public company
- company avail progression, llc
- person carol hahn
- company elite generators, llc
- person forex offering fraud
- person jillian harris
- person john fernandez
- company john fernandez, avail progression llc, elite generators llc
- person keefe bernstein
- person matthew j. gulde
- agency sec complaint
- agency sec fort worth regional office
- agency sec litigation
- agency Securities and Exchange Commission
- person tyson m. lies
- John Fernandez charged with Forex Offering Fraud
- John Fernandez controlled Avail Progression, LLC
- John Fernandez controlled Elite Generators, LLC
- SEC obtained final judgment against John Fernandez, Avail Progression LLC, Elite Generators LLC
- John Fernandez promised guaranteed returns from forex trading
- John Fernandez used investor funds for Ponzi payments and personal expenses
- Court entered final judgment on April 14, 2026
- John Fernandez permanently enjoined from violating Securities Act Sections 5(a), 5(c), 17(a) and Securities Exchange Act Section 10(b)
- John Fernandez permanently enjoined from participating in issuance, offer, purchase or sale of securities except personal accounts
- John Fernandez prohibited from acting as officer or director of public company
- Defendants ordered to pay disgorgement $5,002,383.00
- Defendants ordered to pay prejudgment interest $1,626,707.93
- John Fernandez ordered to pay civil penalty $472,902.00
- SEC complaint filed on December 16, 2022
- Case docket number 4:22-cv-04365
- Jillian Harris conducted investigation for SEC Fort Worth Regional Office
- Carol Hahn conducted investigation for SEC Fort Worth Regional Office
- Tyson M. Lies led litigation for SEC
- Matthew J. Gulde led litigation for SEC
- Keefe Bernstein supervised SEC litigation
U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26539 / April 24, 2026Securities and Exchange Commission v. John Fernandez, et al., No. 4:22-cv-04365 (S.D. Tex. filed Dec. 16, 2022)SEC Obtains Final Judgment as to Defendants Charged in Forex Offering FraudOn April 14, 2026, the United States District Court for the Southern District of Texas entered a final judgment as to John Fernandez and two companies he controlled, Avail Progression, LLC and Elite Generators, LLC, in connection with the SEC’s civil enforcement action against them.According to the SEC’s complaint, filed on December 16, 2022, Fernandez promised to pay investors guaranteed returns by trading their funds in the forex markets. However, the complaint alleges that instead of trading investors’ money as promised, Fernandez used the majority of the investor funds to make Ponzi payments and for his own personal expenses.The final judgment, which follows the Court entering bifurcated judgments as to the defendants on April 19, 2023 and granting the SEC’s motion for monetary relief on March 30, 2026, permanently enjoins Fernandez, Avail Progression, and Elite Generators from violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder; permanently enjoins Fernandez from participating in the issuance, offer, purchase or sale of any security except for purchases or sales for his own personal accounts; and prohibits Fernandez from acting as an officer or director of a public company. In addition, the final judgment orders the defendants to pay disgorgement in the amount of $5,002,383.00 and prejudgment interest in the amount of $1,626,707.93, on a joint and several basis, and orders Fernandez to pay a civil penalty in the amount of $472,902.00.The SEC’s investigation was conducted by Jillian Harris and Carol Hahn of the SEC’s Fort Worth Regional Office. The SEC’s litigation was led by Tyson M. Lies and Matthew J. Gulde and supervised by Keefe Bernstein.
U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 26539 / April 24, 2026Securities and Exchange Commission v. John Fernandez, et al., No. 4:22-cv-04365 (S.D. Tex. filed Dec. 16, 2022)SEC Obtains Final Judgment as to Defendants Charged in Forex Offering FraudOn April 14, 2026, the United States District Court for the Southern District of Texas entered a final judgment as to John Fernandez and two companies he controlled, Avail Progression, LLC and Elite Generators, LLC, in connection with the SEC’s civil enforcement action against them.According to the SEC’s complaint, filed on December 16, 2022, Fernandez promised to pay investors guaranteed returns by trading their funds in the forex markets. However, the complaint alleges that instead of trading investors’ money as promised, Fernandez used the majority of the investor funds to make Ponzi payments and for his own personal expenses.The final judgment, which follows the Court entering bifurcated judgments as to the defendants on April 19, 2023 and granting the SEC’s motion for monetary relief on March 30, 2026, permanently enjoins Fernandez, Avail Progression, and Elite Generators from violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder; permanently enjoins Fernandez from participating in the issuance, offer, purchase or sale of any security except for purchases or sales for his own personal accounts; and prohibits Fernandez from acting as an officer or director of a public company. In addition, the final judgment orders the defendants to pay disgorgement in the amount of $5,002,383.00 and prejudgment interest in the amount of $1,626,707.93, on a joint and several basis, and orders Fernandez to pay a civil penalty in the amount of $472,902.00.The SEC’s investigation was conducted by Jillian Harris and Carol Hahn of the SEC’s Fort Worth Regional Office. The SEC’s litigation was led by Tyson M. Lies and Matthew J. Gulde and supervised by Keefe Bernstein.