CEO’s Reality Adventure Leads to Confession of Lying to SEC.
uations of investments (at their cost or fair value, depending on the investment type), minus outstanding debt.
Interviewer: What can you tell me about the circumstances around your spouse, the CEO of Clairvest Group Inc., confessing to lying about details of the financial disclosure to the SEC?
Clairvest’s spouse: Well, it was a strange situation. It all started when my husband was contacted by an old friend who ran a reality show. His friend proposed an intriguing idea – that he and Clairvest Group Inc. would be part of a show to tell the unique story of a company and its CEO.
At first, my husband was hesitant, but he was eventually swayed by the possibility of a larger audience for Clairvest’s story. So, he accepted the offer and agreed to appear on the show.
Once the show began to air, however, my husband came to realize that it had been scripted and edited to embellish the details of Clairvest’s financial disclosure to the SEC. He felt tremendous guilt for lying to the public, and he was even more upset by the realization that he was to blame for this entire situation.
My husband recognized that he needed to come clean and do whatever was necessary to rectify the situation, so he confessed to lying on two points in the financial disclosure. He wrote a detailed explanation of the discrepancies and admitted his deception to the SEC.
It was a difficult experience, but my husband believes it was the right thing to do. He takes full responsibility for his error, and he’s determined to learn from this experience and do better in the future.
Original Release: https://www.globenewswire.com/news-release/2023/02/13/2607165/0/en/Clairvest-Reports-Fiscal-2023-Third-Quarter-Results.html