CEO FAKED $120 MILLION DEAL WITH FORGED SIGNATURES!

SEC v. Matthew Derrick Hudson — U.S. Securities and Exchange Commission Litigation Release No. 26411, dated September 24, 2025.

The SEC charged Matthew Derrick Hudson, former CEO of Invenia Technical Computing Corporation, with defrauding investors out of approximately $120 million. Hudson allegedly fabricated financial statements and other documents to inflate the company's performance and conducted an unauthorized funding round, leading to investor losses.

In Plain English

Imagine a company CEO who wanted to raise money for his tech company. Instead of showing the real numbers, he made up fake financial reports that made the company look much richer and more successful than it was. He even created fake documents for a big investment round that the company's own board of directors didn't even know about. Because of these lies, investors lost a lot of money.

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.

How the Alleged Scheme Worked

1. Inflated Financials From at least October 2020 through January 2022, Matthew Derrick Hudson, CEO of Invenia, allegedly created fake financial statements. He dramatically inflated key metrics like gross revenue, net income, and cash on hand to deceive investors.
2. Fabricated Audited Statements Hudson allegedly altered Invenia's audited financial statements for fiscal year 2019. He boosted the actual gross revenue of about $20 million to approximately $227 million and turned an actual net loss of $10 million into a positive $114 million.
3. First Funding Round (Series B-1) Hudson conducted an initial Series B funding round (Series B-1) between October 2020 and March 2021, raising approximately $86.2 million. He used the falsified financial documents to support his claims about the company's performance to investors.
4. Unauthorized Second Funding Round (Series B-2) Hudson then orchestrated a second Series B funding round (Series B-2) from around March 2021 to January 2022, raising approximately $33.5 million. This round was never authorized by Invenia's board of directors.
5. Fake Investor Lists and Resolutions To carry out the unauthorized Series B-2 round, Hudson provided investors with fake investor lists and fabricated board resolutions. He also supplied fake closing documents, including one set with forged signatures of other purported investors.
6. Misleading Investors in Series B-2 Hudson falsely presented the Series B-2 round as legitimate to prospective investors. He provided offering documents that purported to show lead institutional investors and others participating, when in reality, no other investors were committed.
7. Board Discovery and Investigation In late February or early March 2022, Invenia's board discovered the unauthorized Series B-2 funding round. The board formed a special committee to investigate, which expanded to look into Invenia's overall financial activities.
8. Termination and Company Collapse Hudson was terminated by Invenia in October 2022, and the company ceased most operations by the end of that year. Invenia later filed for bankruptcy in January 2025.

The Enforcement Action

The SEC charged Matthew Derrick Hudson with violating securities laws. The SEC seeks permanent injunctions, disgorgement plus prejudgment interest, civil penalties, and an officer and director bar.

Named in this action: Matthew Derrick Hudson.

Original SEC litigation release ↗ · Browse all cases