U.S. Securities and Exchange Commission Litigation Release No. 26357, dated July 22, 2025.
The SEC charged Jerry D. Guess and his company, Guess & Co. Corporation, with defrauding investors. They falsely claimed the company had millions in revenue and projected billions, but in reality, it had almost no operations or income. A court entered a default judgment against them, barring them from the securities industry for five years and ordering Guess to pay a $15,000 penalty.
Imagine someone is selling you shares in a lemonade stand. They tell you it's making tons of money and will soon be a giant soda company. But, in reality, they've only sold a few cups of lemonade and have no real business. The SEC stepped in and stopped them from selling more shares. The person in charge also has to pay a fine and can't sell any investments for a while, except for their own personal buying and selling.
Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.
The U.S. District Court for the District of Nebraska entered a final judgment on July 7, 2025, against Jerry D. Guess and Guess & Co. Corporation. The judgment permanently enjoins them from violating Sections 17(a)(1) and 17(a)(3) of the Securities Act of 1933. It also enjoins them for five years from participating in the issuance, purchase, offer, or sale of any security, except for Guess's personal trading. Jerry Guess was ordered to pay a civil penalty of $15,000.