SEC v. Michael Caridi

Michael Caridi allegedly assisted Tree of Knowledge International Corp. in issuing two press releases touting TOKI’s successful pivot into being a PPE provider. According to the SEC’s complaint, the press releases did not inform the public that Caridi and TOKI had previously failed to deliver three million medical grade NIOSH certified N-95 masks to a Canadian hospital pursuant to a contract with that hospital. In addition, as alleged in the complaint, TOKI had an $11 million liability to the hospital, and Caridi had misappropriated over $1 million from the unperformed contract.

Summary generated from official Securities and Exchange Commission press release