Defendant Name: Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation)

Defendant Type: Public Company

Document Reference: 33-11222-s

Document Details

Legal Case Name In the Matter of Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation); Milton Charles ("Todd") Ault III; and William B. Horne, CPA
Document Name SEC Charges Ault Alliance, Inc. and former CEO Milton Charles ("Todd") Ault III with Making Misleading Disclosures and Other Violations, and Charges Current CEO for Record-keeping and Internal Control Violations
Document Date 15-Aug-2023
Document Format Administrative Proceeding
File Number 3-21561
Allegation Type Issuer Reporting and Disclosure
Document Summary On August 15, 2023, the SEC "announced settled charges against Ault Alliance, Inc. (f/k/a BitNile Holdings, Inc., Ault Global Holdings, Inc., DPW Holdings, Inc., and Digital Power Corporation) (“AAI”) and its Executive Chairman and then-Chief Executive Officer, Milton Charles (“Todd”) Ault III, arising out of misleading disclosures and reporting, proxy statement, books and records, and internal controls violations during the period 2016-2021. The Commission also announced settled charges against AAI’s former Chief Financial Officer and current CEO, William Horne, CPA, for his role in the falsification of AAI’s books and records."

Disgorgement & Penalty Information

Resolutions
Compliance Related Independent Consultant
Monetary Penalties:

Civil Penalty

Individual:     $700,000.00 Shared:    

Related Documents:

33-11222 15-Aug-2023 Administrative Proceeding
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
On August 15, 2023, the SEC instituted settled cease-and-desist proceedings against Ault Alliance, Inc., Milton Charles Auld III, and William B. Horne, stating: "This matter involves material misstatements regarding certain businesses of AAI, the failure to disclose interests in related person transactions, improper recording of purported consulting services, erroneous accounting of investments, and the failure to maintain accounting and disclosure controls."