A former drink company chief executive made up or over-hyped distribution deals to inflate his company’s stock and his own compensation, according to a lawsuit filed Tuesday by the US Securities and Exchange Commission.
The SEC sued Brent Willis in the US District Court for the District of Colorado saying he made false statements about a series of deals involving his old company, NewAge Inc., including that it would be providing drinks at military commissaries and exchanges across the globe.
“In reality, NewAge never entered into a distribution agreement with the military; never had plans to sell its products at ...
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