Fake Broker Raked In Millions By Cold-Calling Victims With Lies!

SEC v. Christopher Joseph Bongiorno — U.S. Securities and Exchange Commission Litigation Release No. 26526, dated April 10, 2026.

The SEC charged Christopher Joseph Bongiorno with fraud and acting as an unregistered broker. Bongiorno solicited investors to buy securities in US Lighting Group, Inc. and Petroteq Energy, Inc., using a fake broker identity and cold-calling. He received over $2.3 million in commissions and misappropriated $30,000. A final judgment permanently enjoins him from violating securities laws and bars him from soliciting investors for five years.

In Plain English

Imagine someone pretending to be a helpful financial advisor, but they're actually trying to trick you into buying certain company stocks. This person, Christopher Bongiorno, did just that. He called people up, pretending to be a licensed broker, and convinced them to invest in two companies, US Lighting Group and Petroteq Energy. He made over $2.3 million by taking a cut of these sales and also stole $30,000 directly from two investors. Now, a court has ordered him to stop this behavior, pay back the money, and he's banned from acting as a broker for a long time.

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. Targeting Investors From September 2015 through November 2018, Christopher Joseph Bongiorno focused on finding people to invest their money.
2. Impersonating a Broker To gain trust, Bongiorno used a fake name to make it seem like he was a licensed financial broker, even though he was not.
3. Cold Calling He would directly call potential investors out of the blue, a tactic known as cold calling, to pitch his investment opportunities.
4. Building a Team Bongiorno also hired other people to work under him, instructing them to solicit investors to buy specific securities.
5. Promoting Specific Securities The investments he pushed were securities issued by two companies: US Lighting Group, Inc. and Petroteq Energy, Inc.
6. Receiving Commissions For successfully convincing people to invest, Bongiorno received substantial gross commissions, totaling more than $2.3 million.
7. Misappropriating Funds Beyond commissions, Bongiorno also directly stole $30,000 from two investors, taking their money for his personal use.

The Enforcement Action

On April 7, 2026, the U.S. District Court for the Northern District of Ohio entered a final judgment by consent as to Christopher Joseph Bongiorno. Bongiorno previously pled guilty to conspiracy to commit securities fraud in a parallel criminal action. The SEC’s complaint, filed February 28, 2020, alleged that from September 2015 through November 2018, Bongiorno solicited investors to purchase securities in US Lighting Group, Inc. and Petroteq Energy, Inc., using a fictitious name to appear as a licensed broker. He received over $2.3 million in gross commissions and misappropriated $30,000. The final judgment permanently enjoins Bongiorno from violating Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 15(a)(1) of the Securities Exchange Act of 1934 and Rule 10b-5. He is also enjoined for five years from soliciting any person to purchase or sell any security and permanently enjoined from acting as or associating with any broker or dealer. Bongiorno is ordered to pay disgorgement of $2,370,987.43 plus prejudgment interest of $551,924.45, offset by $929,729.38 in restitution from the parallel criminal action. The SEC previously obtained summary judgment against Bongiorno and a final judgment against his codefendant, Jason Allan Arthur, concluding the SEC’s litigation.

Named in this action: Christopher Joseph Bongiorno.

Original SEC litigation release ↗ · Browse all cases