ImageXpres CEO and CFO Pay $75,000 to Settle Fraud Allegations
The U.S. Securities and Exchange Commission (SEC) sued John and Kevin Zankowski and their Fairport company, ImageXpres Corp., on Sept. 25. The suit, brought in U.S. District Court, alleged that between 2009 and 2011 the financial performance of the digital printing and software development firm had been hugely overstated to investors.
ImageXpres "reported revenue growth rates in excess of 300 percent ... for some products in spite of the absence of virtually any bona fide sales," according to the SEC complaint. "ImageXpres is essentially dormant now with little or no capital."
- People:
- John
- Kevin Zankowski
- Places:
- Fairport
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