SEC v. Jason Allan Arthur; and Christopher Joseph Bongiorno, No. LR-24754, Northern District of Ohio (Mar. 2, 2020) — Press Release
raw: Bongiorno, Arthur
Bongiorno, Arthur, No. 1:20-cv-00469 (Mar. 2, 2020)
summary
Jason Allan Arthur and Christopher Joseph Bongiorno were charged by the SEC with engaging in a multi-year securities fraud scheme, posing as licensed brokers to solicit investments in US Lighting Group, Inc. and Petroteq Energy, Inc.
paragraph
The SEC charged Jason Allan Arthur and Christopher Joseph Bongiorno with securities fraud and acting as unregistered brokers in connection with offerings by US Lighting Group, Inc. and Petroteq Energy, Inc. The alleged scheme generated commissions of at least $1,174,057.10 for Arthur and $2,356,358.91 for Bongiorno. The SEC charges them with violating antifraud provisions and broker-dealer registration requirements.
narrative
The Securities and Exchange Commission (SEC) charged Jason Allan Arthur and Christopher Joseph Bongiorno with engaging in a multi-year securities fraud scheme, posing as licensed brokers to solicit investments in US Lighting Group, Inc. and Petroteq Energy, Inc. Between September 2015 and November 2018, the defendants used aliases to deceive issuers into believing they were licensed brokers, then cold-called investors nationwide, soliciting investments and collecting commissions of 35%–50%. The alleged scheme generated commissions of at least $1,174,057.10 for Arthur and $2,356,358.91 for Bongiorno. To conceal their illicit payments, they submitted fraudulent invoices to the issuers. The SEC’s complaint, filed in the Northern District of Ohio, alleges violations of Section 17(a) of the Securities Act, Section 10(b) and Rule 10b-5 of the Exchange Act, and Section 15(a)(1)’s broker-dealer registration requirements. The case is being litigated by the SEC’s Salt Lake Regional Office.
Classified boiler-room(confidence 90%). EDGAR detection: forms Form D· recall 50% / precision 4%. detection rule →
Parties
LoughnerAtrium Medical Corporation
Keywords
arthur bongiornobongiornoarthursecuritiesbongiorno arthursecurities exchangeuslg pqeffuslgexchangepqeffexchange commissioninvestorssecohiosec's
Exhibits & Attached Documents (1)
Extracted insights
Dollar amounts 2
- $2.36M $2,356,358 $1M–$10M
- $1.17M $1,174,057 $1M–$10M
Entities 6
- person christopher joseph bongiorno
- person jason allan arthur
- agency Securities and Exchange Commission
- organization Securities and Exchange Commission
- person unregistered brokers
- company us lighting group, inc.
Triples 27
- SEC charged Jason Allan Arthur and Christopher Joseph Bongiorno
- Arthur and Bongiorno engaging in fraud
- Arthur and Bongiorno acting as unregistered brokers
- Arthur and Bongiorno used aliases to convince USL
- Securities and Exchange Commission charged Jason Allan Arthur and Christopher Joseph Bongiorno with fraud and unregistered broker activity
- Jason Allan Arthur used aliases to convince US Lighting Group, Inc. (USLG) investors
- Christopher Joseph Bongiorno used aliases to convince US Lighting Group, Inc. (USLG) investors
- Arthur Bongiorno charged with fraud and unregistered broker activity
- Arthur Bongiorno used alias to deceive USL
- Jason Allan Arthur charged with fraud and unregistered broker activity
- US Lighting Group, Inc. offered securities to investors
- Petroteq Energy, Inc. offered securities to investors
- SEC filed complaint against Arthur and Bongiorno
- Arthur and Bongiorno acted as unregistered brokers
- Securities and Exchange Commission charged Jason Allan Arthur and Christopher Joseph Bongiorno
- Jason Allan Arthur and Christopher Joseph Bongiorno engaged in fraud
- Jason Allan Arthur and Christopher Joseph Bongiorno acted as unregistered brokers
- Jason Allan Arthur charged with fraud and acting as unregistered brokers
- Christopher Joseph Bongiorno charged with fraud and acting as unregistered brokers
- Jason Allan Arthur used aliases to convince USLG and PQEFF
- Christopher Joseph Bongiorno used aliases to convince USLG and PQEFF
- Securities and Exchange Commission charged Jason Allan Arthur and Christopher Joseph Bongiorno
- Securities and Exchange Commission filed complaint against Jason Allan Arthur and Christopher Joseph Bongiorno
- US Lighting Group, Inc. offered securities
- Petroteq Energy, Inc. offered securities
- Jason Allan Arthur of Nevada
- Christopher Joseph Bongiorno of Ohio
PDF (from attached: complaint)
Text layers
Extracted body text (2,149c)
SEC Charges Two Men with Fraud and Unregistered Broker Activity Litigation Release No. 24754 / March 2, 2020 Securities and Exchange Commission v. Bongiorno, Arthur, No. 1:20-cv-00469 (N.D. Ohio filed February 28, 2020) The Securities and Exchange Commission charged Jason Allan Arthur and Christopher Joseph Bongiorno with engaging in fraud and acting as unregistered brokers in connection with the securities offerings of two issuers, US Lighting Group, Inc. (USLG) and Petroteq Energy, Inc. (PQEFF). According to the SEC's complaint, Arthur, of Nevada, and Bongiorno, of Ohio, used aliases to convince USLG management that they held the requisite securities licenses to engage in investor solicitations. From September 2015 through November 2018, Arthur and Bongiorno allegedly solicited individual investors throughout the United States to invest in securities issued by USLG and PQEFF. The complaint alleges that, operating under their aliases, Arthur and Bongiorno used lead lists to cold call prospective investors and hired others to work below them to solicit investors to purchase USLG or PQEFF securities. In order to obfuscate their receipt of commissions, Arthur and Bongiorno allegedly submitted misleading invoices to USLG and PQEFF. Arthur and Bongiorno allegedly received commissions of 35% to 50% of investor funds, totaling at least $1,174,057.10 and $2,356,358.91, respectively. The SEC's complaint, filed in the U.S. District Court for the Northern District of Ohio, charges Arthur and Bongiorno with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and the broker-dealer registration provisions of Section 15(a)(1) of the Exchange Act. The SEC's investigation was conducted by James Thibodeau and Laurie Abbott and was supervised by Daniel Wadley, Regional Director of the Salt Lake Regional Office. Litigation will be led by David Whipple. The SEC encourages investors to check the background of anyone selling or offering them an investment using the free and simple search tool on Investor.gov. SEC Complaint
OCR text (2,149c · html-text · 99% conf)
SEC Charges Two Men with Fraud and Unregistered Broker Activity Litigation Release No. 24754 / March 2, 2020 Securities and Exchange Commission v. Bongiorno, Arthur, No. 1:20-cv-00469 (N.D. Ohio filed February 28, 2020) The Securities and Exchange Commission charged Jason Allan Arthur and Christopher Joseph Bongiorno with engaging in fraud and acting as unregistered brokers in connection with the securities offerings of two issuers, US Lighting Group, Inc. (USLG) and Petroteq Energy, Inc. (PQEFF). According to the SEC's complaint, Arthur, of Nevada, and Bongiorno, of Ohio, used aliases to convince USLG management that they held the requisite securities licenses to engage in investor solicitations. From September 2015 through November 2018, Arthur and Bongiorno allegedly solicited individual investors throughout the United States to invest in securities issued by USLG and PQEFF. The complaint alleges that, operating under their aliases, Arthur and Bongiorno used lead lists to cold call prospective investors and hired others to work below them to solicit investors to purchase USLG or PQEFF securities. In order to obfuscate their receipt of commissions, Arthur and Bongiorno allegedly submitted misleading invoices to USLG and PQEFF. Arthur and Bongiorno allegedly received commissions of 35% to 50% of investor funds, totaling at least $1,174,057.10 and $2,356,358.91, respectively. The SEC's complaint, filed in the U.S. District Court for the Northern District of Ohio, charges Arthur and Bongiorno with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and the broker-dealer registration provisions of Section 15(a)(1) of the Exchange Act. The SEC's investigation was conducted by James Thibodeau and Laurie Abbott and was supervised by Daniel Wadley, Regional Director of the Salt Lake Regional Office. Litigation will be led by David Whipple. The SEC encourages investors to check the background of anyone selling or offering them an investment using the free and simple search tool on Investor.gov. SEC Complaint