ContinuityX Former CEO Sentenced to Prison | Goodman & Nekvasil P.A. May Recover Investor Losses
The SEC announced that David P. Godwin, whom the SEC charged in September 2015 with fabricating nearly all of the revenue of ContinuityX Solutions, Inc. and enriching himself in the process, was sentenced in a parallel criminal case to 13 years in prison.
The criminal charges against Godwin stem, in part, from the same misconduct alleged in the SEC’s complaint, which was filed in federal district court in Peoria, Illinois. The SEC’s complaint alleges that Godwin, ContinuityX’s former CEO, engineered a scheme to inflate the company’s revenues with a co-defendant who served as ContinuityX’s former CFO. The complaint also alleges that while ContinuityX reported revenues of $27.2 million from April 2011 to September 2012, 99 percent of the reported revenue came from fraudulent and fictitious sales. According to the complaint, Godwin used the allegedly fraudulent SEC filings to raise millions of dollars from investors in a private offering of ContinuityX securities and Godwin enriched himself with $1.3 million in compensation from ContinuityX.
Investors in ContinuityX Solutions, Inc. May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in ContinuityX Solutions, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in ContinuityX Solutions and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.