Joseph Cammarata’s SEC judgment tops $50.4 million
Joseph Cammarata has had Final Judgment entered against him in his SEC case.
As per the January 23rd order, the former Investview CEO is up for $50.4 million in disgorgement.
Judge Chad Kenney ruled that Cammarata (right) was liable for $43.4 million.
This amount represents Cammarata’s net profits, as well at $6.9 million in prejudgment interest.
Factoring in Cammarata’s $47 million restitution and forfeiture penalties in parallel criminal proceedings, Judge Kenney reduced Cammarata’s SEC obligation to $2.7 million.
Defendant Cammarata and the Entity Defendants shall satisfy this joint and several obligation by paying $2,701,793.98 to the Securities and Exchange Commission within 30 days after entry of this Final Judgment.
The SEC’s case against Cammarata was brought against him in late 2021.
The SEC alleged Cammarata engaged in a “conspiracy to commit multiple counts of fraud in connection with a securities fraud claims scheme”.
The “securities fraud claims scheme” saw Cammarata and two co-conspirators submit bogus claims in SEC enforcement action settlements.
Sentencing in Cammarata’s tax fraud case remains pending.
Although Cammarata’s illegal conduct occurred during his time as Investview CEO, Investview maintains it was unaware.