Listen up, people, here is how it works. You take the Derma Wand and rub it on your face, "giving yourself a non-surgical face lift." What's not to like? Why aren't you already calling the 800 number to get yourself one?

According to the SEC, at least, sales of the Derma Wand were not quite as advertised. Today, the SEC charged International Commercial Television Inc. and its former CFO, Karl Redekopp, with fraudulently boosting ICTV's earnings by reporting sales of the Derma Wand while the products still sat unsold in the company's warehouse.

The SEC alleges that although the Derma Wand was promoted through Home Shopping Network infomercials,

Redekopp fraudulently recognized revenue before the Home Shopping Network had actually sold or delivered the product to viewers. He also improperly recognized revenue before a free trial period offered by the company had expired, and failed to reverse revenue from products that had been returned. Redekopp's misconduct caused the company to falsely report millions of dollars in excess revenue in 2007 and 2008.

The SEC also began administrative proceedings against ICTV's auditors, claiming that they "turned a blind eye to the company's financial irregularities and failed to fulfill their role in investor protection."