SEC charges Mattes, ex-Jumio CEO, with defrauding investors
The SEC said April 2 that it charged Daniel Mattes, the former CEO of Jumio Inc, with defrauding investors. Mattes has agreed to pay more than $17 million to settle charges. Mattes grossly overstated Jumio’s 2013 and 2014 revenues and then sold shares he held personally to investors in the private, secondary market, the SEC said in the complaint. Mattes made about $14 million selling his Jumio shares and hid the sales from Jumio’s board, the SEC said. Mattes is barred from being an officer or director of a publicly traded company in the U.S., and has agreed to pay more than $16 million in disgorgement and prejudgment interest plus a $640,000 penalty, the SEC said.
3 April 2019•2 mins read
