Edward O’Donnell; Victor Bozzo

The Securities and Exchange Commission obtained final judgments against Edward O'Donnell and Victor Bozzo, former executives of Pareteum Corp., for their roles in a revenue recognition scheme that overstated revenue by $12 million in fiscal year 2018 and $27 million in the first two quarters of 2019. The scheme resulted in material misstatements to investors. The SEC's actions conclude the litigation against Bozzo and O'Donnell, who were permanently enjoined from violating securities laws and prohibited from serving as officers or directors of publicly traded companies.