SEC v. Frederick W. Wagenhals

Frederick W. Wagenhals, Robert D. Wiley, and Christopher D. Larson allegedly made repeated materially false and misleading statements in Ammo’s public SEC filings and financial statements that generally had the purpose of hiding or obfuscating unfavorable information about the management and operations of the company, according to the SEC. Larson's undisclosed, senior role at Ammo allegedly enabled him to lead major business operations of the company in contravention of the court order, including the negotiations for the most significant acquisition in Ammo’s history, and allowed him to arrange a series of transactions where Larson or a member of his family would benefit financially. Wagenhals and Wiley allegedly approved and certified misleading statements and omitted information, and also contained fundamental accounting errors, while knowing information in the reports was inaccurate, according to the SEC.

Summary generated from official Securities and Exchange Commission press release