SEC v. David P. Godwin (financial statement fraud, 2021)

Judgment entered

Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In November 2021, the SEC announced a final judgment against David P. Godwin, a former executive of ContinuityX Solutions, over fabricated revenue; the release concerns reporting fraud, not trading.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-25254
Date filed	2021-11-04
Date resolved	2021-11-04
Status	judgment
Criminal parallel	Yes: sentenced (David P. Godwin)
Bars imposed	officer-and-director bar
Defendants	David P. Godwin (individual)
Cited as charged or alleged	Exchange Act s.10(b) and Rule 10b-5 ; Exchange Act s.13(a) ; Securities Act s.17(a) (statutes and rules cited in the document; not a finding that they were violated)
Techniques

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
Alleged gain: —

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission announced this matter on November 4, 2021 as release LR-25254. The respondents named are David P. Godwin (1 individual, 0 entities).

The release concerns Godwin, whom the SEC charged in 2015 with fabricating almost all the revenue reported by ContinuityX. It describes no wash trades. The "fictitious sales" are invented customer revenue in the company's filings.

This library applies no technique tag to the matter. The conduct is financial statement fraud, not wash trading.

The release records the outcome of the SEC's civil action against Godwin; the underlying fraud findings are not about trading.

Timeline

2021-11-04 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Record added September 10, 2026. submit a correction.