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.
Separately, Cammarata was also indicted twice for tax fraud. Cammarata was found guilty on all counts on November 15th, 2023.
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.
So he was criminally charged for tax, but civilly for his mlm?
Weird not for the MLM Criminally.
All of Cammarata’s charges pertain to his Alpha Plus Recovery scam. This took place while Cammarata was Investview’s CEO.
Investview itself isn’t part of the Alpha Plus Recovery cases. Investview remains under separate investigation for potential iGenius related securities fraud.
[iGenius defender]: Yeah, but what company hasn’t had a CEO jailed for fraud, indicted for tax fraud, and fined $50M?
Are the sentencing and monetary fines for the IRS case are all that remain for Cammarata’s legal cases to be considered complete?
Is the government pursuing the other legal issues, such as human smuggling, witness tampering and the like, that have come up during these cases? It is difficult to tell based on the online information.
BehindMLM has covered Cammarata’s existing cases. Can’t speak to what might or might not be filed in the future.