August 24, 2022
Posted August 24, 2022
Taronis Technologies, Inc. and related entities have agreed to pay a total of $5.1 million in disgorgement and interest to resolve allegations that the companies issued false and misleading statements claiming to have agreements and relationships with customers that did not exist or were exaggerated. Taronis executives created fake and backdated orders, resulting in improper revenue recognition. Based on these misstated financials, defendants raised approximately $30 million from investors in private placements. SEC
Tagged in: Accounting Fraud, Financial and Investment Fraud, Misrepresentations, Securities Fraud,