Defendant Name:
Cemtrex, Inc.
Defendant Type:
Public Company
SIC Code:
9999
CUSIP:
15130G60
Document Reference:
33-11114
Document Details
Legal Case Name
In the Matter of Cemtrex, Inc. and Saagar Govil
Document Name
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
30-Sep-2022
Document Format
Administrative Proceeding
Allegation Type
Securities Offering
Document Summary
On September 30, 2022, the SEC instituted settled cease-and-desist proceedings against Cemtrex, Inc. and Saagar Govil, stating: "These proceedings arise out of misrepresentations by Cemtrex, a diversified
technology company, regarding Cemtrex’s use of offering proceeds and undisclosed trading in
Cemtrex stock, as well as misrepresentations by Cemtrex and its Chairman and CEO, S. Govil,
regarding sales of Cemtrex’s flagship business and consumer electronics product, the SmartDesk."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Various undertakings
Fair Funds
Monetary Penalties:
Civil Penalty
Individual:
$2,200,000.00
Shared:
Other Defendants in Action:
