Earlier this year, Gault was named USA Track & Field's Athlete of the Week after he set world records in the 50-to-54 age group for the 100-meter and 200-meter dashes, clocking times of 10.88 seconds and 22.44 seconds, respectively.
Japan Day Trip
Stein and Carter fabricated several documents to support false disclosures to the public, the SEC said. In one instance, Carter made a one-day round-trip journey to Japan, at Stein's direction, to mail back a letter from a fictitious customer in order to deceive management, disclosure counsel and auditors, according to the SEC. They also arranged to ship products to one of Carter's friends to create the illusion that the company was delivering a heart-monitoring device to an actual customer, the SEC said.
The SEC is seeking to permanently bar Gault, Stein and Perkins from serving as corporate officers, as well as the return of ill-gotten profits and unspecified financial penalties.