Name and Shame
Name and Shame

STEVEN L. HENNING, CPA REVIEW

Complaint
#5YDOS

This complaint was posted on NAS on 4th Jan, 2021 and is a permanent record located here: https://www.nameandshame.com/steven-l-henning-cpa-5YCUY/2m-fraud-by-accountant-id5ydos .

NameandShame Author
The Activist Accountants
4th Jan, 2021

$2m Fraud By Accountant!

Steven L. Henning, CPA tried to play smart with their investors and was caught red handed by none other than U.S. Securities And Exchange Commission.


Latest SEC AAER has shocked Steven L. Henning, CPA investors who feel misled and betrayed by the company’s actions. The auditors at SEC are experts at what they do, which is catch financial frauds and this time they outdid themselves by looking into the financial statements of this company.


Even if the suspension gets lifted by the time you read this, it doesn’t guarantee that this company is trustworthy. Remember, the SEC doesn’t put suspensions on a stock until something illegal happens.


On the first glance, their financial statements might seem just fine, but the devil is in the details, and after some thorough analysis, the truth is revealed. Let’s dive deeper and take a look at the official findings:

Detailed Steven L. Henning, CPA Scam Report

1. Henning, age 59, maintained certified public accountant licenses from the states of Wisconsin and New York until 2019 when his licenses expired. 2. Henning was an auditor and managing director at an accounting firm, a former accounting professor and a former Academic Fellow with the Commission’s Office of Chief Accountant. He also appeared before the Commission, serving as an expert witness regarding auditing matters in Commission proceedings. 3. In October 2018, the United States Attorney’s Office for the Southern District of 1 Rule 102(e)(2) provides in pertinent part: “[A]ny person who has been convicted of a felony or a misdemeanor involving moral turpitude shall be forthwith suspended from appearing or practicing before the Commission.” See 17 C.F.R. 201.102(e)(2). 2 New York (“USAO”) filed a complaint in United States v. Steven L. Henning, 18-cr-859 (S.D.N.Y.), charging Henning with one count of wire fraud (18 U.S.C. § 1343). According to the complaint, Henning defrauded certain individuals of approximately $2 million when they invested in Henning’s private company, OpportunIP LLC (“OpportunIP”). 4. On June 24, 2019, the USAO filed a superseding information charging Henning with two counts of wire fraud (18 U.S.C. § 1343) for defrauding (i) two investor victims of approximately $2 million regarding OpportunIP, and (ii) a corporate victim of approximately $240,000 in connection with Henning’s request for advance pay. 5. Also on June 24, 2019, Henning pled guilty to the two counts in the superseding information. 6. Also on January 29, 2020, judgment was entered by the Court, finding Henning guilty of two counts of wire fraud (18 U.S.C. § 1343). Also on January 29, 2020, the Court sentenced Henning to 51 months of imprisonment to be followed by three years of supervised release. The Court also ordered Henning to pay $938,246 in restitution.

Whenever such disclosures are made public, companies tend to misinform their investors and the public by burying this information. This is why I posted it here at Steven L. Henning, CPA NameAndShame. People deserve to know the reality about these guys, especially when they so shamelessly try to hide it.

Don’t Listen To Their White Lies

To save their image and manipulate investors, companies run cold-call campaigns and advertisements after an enforcement action by the SEC. This is mainly done to distract and persuade the investors and stockholders at the company from the horrible reality.

Please do not fall for the white lies companies often tell in order to save face in such situations. From shifting blame, to calling SEC “scumbags”, company representatives will do anything and everything to keep you from changing your mind about them.


I strongly recommend that you take all your investment decisions without any external influences from the company. A logical approach, combined with experience goes a long way. Don’t let their fake smiles be the result of your monetary loss.

Share Your Opinion, Findings & Evidence

If you have helpful information about this company, then please share it in a comment. A single comment can go a long way and it will help shed more light on this case.


Adding solid evidence is possibly the most effective way to help the community see the truth about this company. Please do so by using the Evidence Box down below.


Interested in the full document? We’ve uploaded it down below!


Evidence Box

1
Type
Name
Date
Action

Add your own evidence

Add your own evidence

View more complaints for Steven L. Henning, CPA?

Comments

0