The SEC charged David Godwin and Anthony Roth, former executives of ContinuityX, a now bankrupt company that claimed to sell internet services to businesses, with financial fraud. The SEC alleges that Godwin and Roth engineered a scheme to inflate ContinuityX’s revenues. ContinuityX reported revenues of $27.2 million from April 2011 to September 2012, but the SEC alleges that 99 percent came from fraudulent and fictitious sales. Godwin and Roth used the allegedly fraudulent SEC filings to raise millions of dollars from investors in a private offering of ContinuityX securities. SEC
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