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Auditor Charged for Failure to Register with PCAOB and Multiple Audit Failures


Auditor Charged for Failure to Register with PCAOB and Multiple Audit Failures
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Written by IVN
Washington, DC - The Securities and Exchange Commission Monday announced the institution of administrative proceedings against a Texas-based CPA for allegedly failing to register his firm with the Public Company Accounting Oversight Board (PCAOB) and alleged wholesale failures in auditing and reviewing the financial statements of a public company client.
According to the SEC’s order, the Enforcement Division and the Office of the Chief Accountant (OCA) allege that Christopher Knauth falsely represented to a public company audit client that his firm was registered with the PCAOB.  The Enforcement Division and OCA further allege that Knauth eventually filed an application to register his firm with the PCAOB, but the PCAOB repeatedly informed him over a nine-month period that the application was incomplete.  Despite this, the Enforcemen ....

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Airborne Wireless Network, et al. (Release No. LR-25043; Mar. 5, 2021)


Litigation Release No. 25043 / March 5, 2021
Securities and Exchange Commission v. Airborne Wireless Network, et al., No. 21-civ-01772 (S.D.N.Y., filed March 2, 2021)
Washington D.C., March 5, 2021 - The Securities and Exchange Commission charged seven individuals and a technology company in connection with a fraudulent scheme to gain control of Airborne Wireless Network, promote its stock, and defraud investors.
According to the SEC s complaint, Kalistratos Kelly Kabilafkas secretly purchased essentially all the outstanding stock of the shell company now known as Airborne, then distributed millions of shares among himself and his associates, including defendants Timoleon Tim Kabilafkas, Panagiotis Bolovis, Eric Scheffey, Chrysilios Chrysiliou, and Moshe Rabin. As alleged, Kelly Kabilafkas and his associates deceived Airborne s transfer agent and broker dealers in order to have the shares transferred into their names, deposited in brokerage accounts, and cleared f ....

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