- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-08-16T19:14:00
Diversified holding company Ault Alliance agreed to pay $700,000 as part of a settlement with the Securities and Exchange Commission (SEC) addressing allegations of misleading disclosures and reporting violations.
The settlement pertains to material misstatements regarding certain businesses of Ault Alliance, failure to disclose interests in related-person transactions, improper recording of purported consulting services, erroneous accounting of investments, and failure to maintain accounting and disclosure controls, the SEC said in its order published Tuesday.
The agency also reached settlements with Milton Ault, the company’s executive chairman and former chief executive officer, and William Horne, the current CEO and former chief financial officer. Ault agreed to pay a penalty, disgorgement, and prejudgment interest totaling approximately $236,000, and Horne was fined $20,720.
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