SEC v. Christopher Joseph Bongiorno; and Jason Allan Arthur, No. 1:20-cv-00469-JPC, Northern District of Ohio (Apr. 10, 2026) — Judgment

1 
 

UNITED STATES DISTRICT COURT                                   
NORTHERN DISTRICT OF OHIO 

                                                                                     __ 
       ) 
SECURITIES AND EXCHANGE    ) 
COMMISSION,     ) 
       )  
    Plaintiff,   ) Civil Action No. 1:20-cv-00469-JPC 
       )  
   v.    ) Hon. J. Philip Calabrese 
       )   
CHRISTOPHER JOSEPH BONGIORNO, ) 
and JASON ALLAN ARTHUR,    ) 
       ) 
    Defendants.  )  
                                                                    ) 
 

FINAL JUDGMENT AS TO DEFENDANT CHRISTOPHER JOSEPH BONGIORNO 
 

The Securities and Exchange Commission having filed a Complaint and Defendant 

Christopher Joseph Bongiorno (“Defendant”) having entered a general appearance; consented to 

the Court’s jurisdiction over Defendant and the subject matter of this action; consented to entry 

of this Final Judgment; waived findings of fact and conclusions of law; and waived any right to 

appeal from this Final Judgment: 

I. 
 

IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is 

permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the 

Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 

promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of 

interstate commerce, or of the mails, or of any facility of any national securities exchange, in 

connection with the purchase or sale of any security: 

(a) to employ any device, scheme, or artifice to defraud; 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  1 of 7.  PageID #: 887



2 
 

(b) to make any untrue statement of a material fact or to omit to state a material fact 

necessary in order to make the statements made, in the light of the circumstances under 

which they were made, not misleading; or 

(c) to engage in any act, practice, or course of business which operates or would operate 

as a fraud or deceit upon any person. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

II. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant 

is permanently restrained and enjoined from violating Section 17(a) of the Securities Act of 1933 

(the “Securities Act”) [15 U.S.C. § 77q(a)] in the offer or sale of any security by the use of any 

means or instruments of transportation or communication in interstate commerce or by use of the 

mails, directly or indirectly: 

(a) to employ any device, scheme, or artifice to defraud; 

(b) to obtain money or property by means of any untrue statement of a material fact or 

any omission of a material fact necessary in order to make the statements 

made, in light of the circumstances under which they were made, not misleading; or 

(c) to engage in any transaction, practice, or course of business which operates or would 

operate as a fraud or deceit upon the purchaser. 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  2 of 7.  PageID #: 888



3 
 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

III. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant 

is permanently restrained and enjoined from violating, directly or indirectly, Section 15(a)(1) of 

the Exchange Act [15 U.S.C. § 78o(a)(1)] by making use of the mails or any means or 

instrumentality of interstate commerce, to effect any transactions in, or to induce or attempt to 

induce the purchase or sale of any security (other than an exempt security or commercial paper, 

bankers’ acceptance, or commercial bills) unless Defendant is registered in accordance with 

Section 15(b) of the Exchange Act [15 U.S.C. § 78o(b)].  

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

IV. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that pursuant to Section 

21(d)(5) of the Exchange Act [15 U.S.C. § 78u(d)(5)], Defendant is, for five years from the date 

of this Final Judgment’s entry, restrained and enjoined from directly or indirectly, including, but 

not limited to, through any entity owned or controlled by him, soliciting any person or entity to 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  3 of 7.  PageID #: 889



4 
 

purchase or sell any security, provided, however, that such injunction shall not prevent 

Defendant from purchasing or selling securities for his own personal account.  

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

V. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that pursuant to 

Section 21(d)(5) of the Exchange Act [15 U.S.C. § 78u(d)(5)], Defendant is permanently 

restrained and enjoined from, directly or indirectly, acting as or being associated with any broker 

or dealer.  For purposes of this paragraph: a person is associated with a broker or dealer if such 

person is a partner, officer, director, or branch manager of such broker or dealer (or occupies a 

similar status or performs similar functions), directly or indirectly controls, is controlled by, or is 

under common control with such broker or dealer, or is an employee of such broker or dealer. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

 

 

 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  4 of 7.  PageID #: 890



5 
 

VI. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant 

is liable for disgorgement of $2,370,987.43, representing net profits gained as a result of the 

conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of 

$551,924.45, for a total of $2,922,911.88, of which $929,729.38 is offset by the Order of 

Restitution entered against Defendant in United States v. Christopher Bongiorno, Case No. 1:21-

CR-00491-JPC(9), ECF No. 655 (N.D. Ohio Dec. 30, 2025).  The Court finds that sending the 

disgorged funds to the United States Treasury, as ordered below, is consistent with equitable 

principles.  Defendant shall satisfy this obligation by paying $1,933,182.50 to the Securities and 

Exchange Commission within 30 days after entry of this Final Judgment. 

Defendant may transmit payment electronically to the Commission, which will provide 

detailed ACH transfer/Fedwire instructions upon request.  Payment may also be made directly 

from a bank account via Pay.gov through the SEC website at 

http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified check, bank 

cashier’s check, or United States postal money order payable to the Securities and Exchange 

Commission, which shall be delivered or mailed to 

Enterprise Services Center 
Accounts Receivable Branch 
6500 South MacArthur Boulevard 
Oklahoma City, OK 73169 
 

and shall be accompanied by a letter identifying the case title, civil action number, and name of 

this Court; Christopher Joseph Bongiorno as a defendant in this action; and specifying that 

payment is made pursuant to this Final Judgment. 

Defendant shall simultaneously transmit photocopies of evidence of payment and case 

identifying information to the Commission’s counsel in this action. By making this payment, 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  5 of 7.  PageID #: 891



6 
 

Defendant relinquishes all legal and equitable right, title, and interest in such funds and no part 

of the funds shall be returned to Defendant. The Commission shall send the funds paid pursuant 

to this Final Judgment to the United States Treasury. 

The Commission may enforce the Court’s judgment for disgorgement and prejudgment 

interest by using all collection procedures authorized by law, including, but not limited to, 

moving for civil contempt at any time after 30 days following entry of this Final Judgment.  

Defendant shall pay post judgment interest on any amounts due after 30 days of the entry 

of this Final Judgment pursuant to 28 U.S.C. § 1961. 

VII. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is 

incorporated herein with the same force and effect as if fully set forth herein, and that Defendant 

shall comply with all of the undertakings and agreements set forth therein. 

VIII. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, for purposes of 

exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. §523, the 

allegations in the complaint are true and admitted by Defendant, and further, any debt for 

disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant under this 

Final Judgment or any other judgment, order, consent order, decree or settlement agreement 

entered in connection with this proceeding, is a debt for the violation by Defendant of the federal 

securities laws or any regulation or order issued under such laws, as set forth in Section 

523(a)(19) of the Bankruptcy Code, 11 U.S.C. §523(a)(19). 

 

 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  6 of 7.  PageID #: 892



7 

IX. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain 

jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. 

Dated:__April 7, 2026___________________ 
____________________________________ 

   UNITED STATES DISTRICT JUDGE 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  7 of 7.  PageID #: 893

1 
 

UNITED STATES DISTRICT COURT                                   
NORTHERN DISTRICT OF OHIO 

                                                                                     __ 
       ) 
SECURITIES AND EXCHANGE    ) 
COMMISSION,     ) 
       )  
    Plaintiff,   ) Civil Action No. 1:20-cv-00469-JPC 
       )  
   v.    ) Hon. J. Philip Calabrese 
       )   
CHRISTOPHER JOSEPH BONGIORNO, ) 
and JASON ALLAN ARTHUR,    ) 
       ) 
    Defendants.  )  
                                                                    ) 
 

FINAL JUDGMENT AS TO DEFENDANT CHRISTOPHER JOSEPH BONGIORNO 
 

The Securities and Exchange Commission having filed a Complaint and Defendant 

Christopher Joseph Bongiorno (“Defendant”) having entered a general appearance; consented to 

the Court’s jurisdiction over Defendant and the subject matter of this action; consented to entry 

of this Final Judgment; waived findings of fact and conclusions of law; and waived any right to 

appeal from this Final Judgment: 

I. 
 

IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is 

permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the 

Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 

promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of 

interstate commerce, or of the mails, or of any facility of any national securities exchange, in 

connection with the purchase or sale of any security: 

(a) to employ any device, scheme, or artifice to defraud; 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  1 of 7.  PageID #: 887



2 
 

(b) to make any untrue statement of a material fact or to omit to state a material fact 

necessary in order to make the statements made, in the light of the circumstances under 

which they were made, not misleading; or 

(c) to engage in any act, practice, or course of business which operates or would operate 

as a fraud or deceit upon any person. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

II. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant 

is permanently restrained and enjoined from violating Section 17(a) of the Securities Act of 1933 

(the “Securities Act”) [15 U.S.C. § 77q(a)] in the offer or sale of any security by the use of any 

means or instruments of transportation or communication in interstate commerce or by use of the 

mails, directly or indirectly: 

(a) to employ any device, scheme, or artifice to defraud; 

(b) to obtain money or property by means of any untrue statement of a material fact or 

any omission of a material fact necessary in order to make the statements 

made, in light of the circumstances under which they were made, not misleading; or 

(c) to engage in any transaction, practice, or course of business which operates or would 

operate as a fraud or deceit upon the purchaser. 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  2 of 7.  PageID #: 888



3 
 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

III. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant 

is permanently restrained and enjoined from violating, directly or indirectly, Section 15(a)(1) of 

the Exchange Act [15 U.S.C. § 78o(a)(1)] by making use of the mails or any means or 

instrumentality of interstate commerce, to effect any transactions in, or to induce or attempt to 

induce the purchase or sale of any security (other than an exempt security or commercial paper, 

bankers’ acceptance, or commercial bills) unless Defendant is registered in accordance with 

Section 15(b) of the Exchange Act [15 U.S.C. § 78o(b)].  

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

IV. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that pursuant to Section 

21(d)(5) of the Exchange Act [15 U.S.C. § 78u(d)(5)], Defendant is, for five years from the date 

of this Final Judgment’s entry, restrained and enjoined from directly or indirectly, including, but 

not limited to, through any entity owned or controlled by him, soliciting any person or entity to 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  3 of 7.  PageID #: 889



4 
 

purchase or sell any security, provided, however, that such injunction shall not prevent 

Defendant from purchasing or selling securities for his own personal account.  

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

V. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that pursuant to 

Section 21(d)(5) of the Exchange Act [15 U.S.C. § 78u(d)(5)], Defendant is permanently 

restrained and enjoined from, directly or indirectly, acting as or being associated with any broker 

or dealer.  For purposes of this paragraph: a person is associated with a broker or dealer if such 

person is a partner, officer, director, or branch manager of such broker or dealer (or occupies a 

similar status or performs similar functions), directly or indirectly controls, is controlled by, or is 

under common control with such broker or dealer, or is an employee of such broker or dealer. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

 

 

 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  4 of 7.  PageID #: 890



5 
 

VI. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant 

is liable for disgorgement of $2,370,987.43, representing net profits gained as a result of the 

conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of 

$551,924.45, for a total of $2,922,911.88, of which $929,729.38 is offset by the Order of 

Restitution entered against Defendant in United States v. Christopher Bongiorno, Case No. 1:21-

CR-00491-JPC(9), ECF No. 655 (N.D. Ohio Dec. 30, 2025).  The Court finds that sending the 

disgorged funds to the United States Treasury, as ordered below, is consistent with equitable 

principles.  Defendant shall satisfy this obligation by paying $1,933,182.50 to the Securities and 

Exchange Commission within 30 days after entry of this Final Judgment. 

Defendant may transmit payment electronically to the Commission, which will provide 

detailed ACH transfer/Fedwire instructions upon request.  Payment may also be made directly 

from a bank account via Pay.gov through the SEC website at 

http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified check, bank 

cashier’s check, or United States postal money order payable to the Securities and Exchange 

Commission, which shall be delivered or mailed to 

Enterprise Services Center 
Accounts Receivable Branch 
6500 South MacArthur Boulevard 
Oklahoma City, OK 73169 
 

and shall be accompanied by a letter identifying the case title, civil action number, and name of 

this Court; Christopher Joseph Bongiorno as a defendant in this action; and specifying that 

payment is made pursuant to this Final Judgment. 

Defendant shall simultaneously transmit photocopies of evidence of payment and case 

identifying information to the Commission’s counsel in this action. By making this payment, 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  5 of 7.  PageID #: 891



6 
 

Defendant relinquishes all legal and equitable right, title, and interest in such funds and no part 

of the funds shall be returned to Defendant. The Commission shall send the funds paid pursuant 

to this Final Judgment to the United States Treasury. 

The Commission may enforce the Court’s judgment for disgorgement and prejudgment 

interest by using all collection procedures authorized by law, including, but not limited to, 

moving for civil contempt at any time after 30 days following entry of this Final Judgment.  

Defendant shall pay post judgment interest on any amounts due after 30 days of the entry 

of this Final Judgment pursuant to 28 U.S.C. § 1961. 

VII. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is 

incorporated herein with the same force and effect as if fully set forth herein, and that Defendant 

shall comply with all of the undertakings and agreements set forth therein. 

VIII. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, for purposes of 

exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. §523, the 

allegations in the complaint are true and admitted by Defendant, and further, any debt for 

disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant under this 

Final Judgment or any other judgment, order, consent order, decree or settlement agreement 

entered in connection with this proceeding, is a debt for the violation by Defendant of the federal 

securities laws or any regulation or order issued under such laws, as set forth in Section 

523(a)(19) of the Bankruptcy Code, 11 U.S.C. §523(a)(19). 

 

 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  6 of 7.  PageID #: 892



7 

IX. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain 

jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. 

Dated:__April 7, 2026___________________ 
____________________________________ 

   UNITED STATES DISTRICT JUDGE 

Case: 1:20-cv-00469-JPC  Doc #: 90  Filed:  04/07/26  7 of 7.  PageID #: 893