SEC v. Aaron Verdugo, et al. — U.S. Securities and Exchange Commission Litigation Release No. 26546, dated April 30, 2026.
The SEC charged Aaron Verdugo and his companies, Verdugo Enterprizes, LLC dba BDaaSWorx and BDaaS Inc., with defrauding approximately 200 investors out of $6.67 million. Verdugo allegedly made false claims about customer relationships and revenue, promising high returns from selling computer chipset units and management services. Instead, investor funds were misappropriated for unauthorized expenses and compensation, and promised returns and refunds were not honored.
In Plain English
Imagine someone promised you a great return on investing in special computer parts. They said they had big companies lined up to use these parts and would pay you back quickly. But, they were lying about having those customers and making money. They took your money, didn't pay you back as promised, and used the funds for themselves instead. The SEC stepped in to stop this and get justice for the investors.
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
- The 'BDX Power Program' Offering From August 2022 to January 2024, Aaron Verdugo, through his entities BDaaSWorx and BDaaS Inc. (collectively 'BDX'), offered investors the chance to buy computer chipset units. Investors were promised that BDX would manage and maintain these units, which would be deployed in BDX's infrastructure for 'big data as a service' (BDaaS).
- False Claims of Customers and Revenue Defendants falsely told investors that BDX had established customer relationships with major Fortune 500 technology companies and was already providing them with data computation and storage services. They claimed these purported existing customers generated revenue for the program.
- Promises of High Returns and Guarantees Investors were promised monthly returns generated from payments by these supposed customers. Additionally, a 'satisfaction guarantee' was offered, allowing investors to receive a full refund (less any returns already received) if they were not satisfied with their investment for any reason.
- Reality: No Customers, No Revenue In reality, BDX had no customer contracts, provided no BDaaS services, and had no source of revenue. The entire premise of customer-generated returns was fabricated.
- Failure to Pay Returns By early 2023, just months after starting to raise funds, the defendants stopped paying monthly returns to nearly all investors. Verdugo allegedly directed staff to make additional false statements regarding these payment failures.
- Breach of Satisfaction Guarantee The defendants also failed to honor the 'satisfaction guarantee,' refusing refunds to all but four investors. The few refunds that were issued were paid using other investors' funds, further depleting the investment pool.
- Misappropriation of Investor Funds Verdugo is alleged to have misappropriated at least $6.1 million of the approximately $6.67 million raised from investors. This money was used for unauthorized operational expenses (approximately $4.68 million) and unauthorized compensation (approximately $854,000).
- Investor Losses Except for the $591,000 paid out as returns or refunds (which themselves were funded by other investors' money), the remaining investors received no monthly returns or refunds, resulting in substantial losses.
The Enforcement Action
On April 27, 2026, the U.S. District Court for the Southern District of Texas entered a final judgment by consent against Aaron Verdugo and his entities, Verdugo Enterprizes, LLC dba BDaaSWorx and BDaaS Inc. (collectively, 'BDX'). The SEC's complaint, filed April 6, 2026, alleged that from August 2022 to January 2024, Verdugo raised approximately $6.67 million from about 200 investors in an unregistered securities offering based on materially false and misleading statements. The defendants allegedly claimed to have Fortune 500 customers and generate revenue from selling computer chipset units and management services, when in reality, they had no customers or revenue. The judgment permanently enjoins the defendants from violating securities laws, orders them to pay disgorgement of $5,537,678 with prejudgment interest of $844,531 on a joint and several basis, and orders Verdugo to pay a $236,000 civil penalty and be barred from participating in the offer or sale of securities for five years (except for personal accounts).
Named in this action: Aaron Verdugo, et al..