Texas Man Accused of Duping Investors Agrees to Settle SEC Case

A Texas man and his companies agreed to pay about $6.62 million to resolve an SEC enforcement action alleging they ran an investment scheme that promised returns from computer chipset operations but had no actual customers or revenue.

Aaron Verdugo raised about $6.67 million from approximately 200 investors from August 2022 through January 2024 through his companies BDaaSWorx and BDaaS Inc., according to the Securities and Exchange Commission’s complaint Monday in the US District Court for the Southern District of Texas.

Verdugo allegedly sold investors computer chipset units for $8,300 to $12,300 each through his “BDX Power Program.” He promised ...