Kevin A. Van de Grift

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26473 / January 30, 2026

Securities and Exchange Commission v. Kevin A. Van de Grift, No. 1:23-cv-01491 (S.D.N.Y. filed Feb. 22, 2023)

SEC Obtains Final Consent Judgment as to CPA and Former Day-Trader Charged with Insider Trading

The Securities and Exchange Commission announced today the entry of a final consent judgment as to Kevin A. Van de Grift in the SEC’s civil enforcement action that charged Van de Grift, a day-trader and certified public accountant, and his close friend, Gil Friendman, with insider trading.

According to the SEC’s complaint, filed in federal district court in New York, Friedman – a former consultant for Francisco Partners Management, L.P. – tipped Van de Grift with material, nonpublic information concerning Francisco Partners’ potential acquisition of Verifone Systems, Inc. The SEC alleged that based on Friedman’s tip, Van de Grift purchased 60,000 shares of Verifone stock from March 5, 2018 through March 9, 2018, and subsequently sold all of these shares the day after the April 9, 2018 public announcement of the acquisition agreement for a profit of approximately $300,000.

Without admitting or denying the allegations, Van de Grift consented to the entry of a final judgment permanently enjoining him from violating the antifraud provisions of Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 thereunder, barring him from serving as an officer or director of a public company for five years, ordering him to pay disgorgement of $298,000 plus prejudgment interest of $69,022.67, and imposing a civil penalty of $298,000. The final judgment was entered by the Court on January 27, 2026.

Van de Grift has also agreed to settle an administrative proceeding pursuant to Rule 102(e) of the SEC’s Rules of Practice, suspending him from appearing or practicing before the SEC as an accountant with the right to apply for reinstatement after five years.

Mr. Friedman previously settled the SEC’s litigation.

The SEC’s litigation against Friedman and Van de Grift was conducted by Sharan Lieberman, Michael Cates, and James McDonald and supervised by Gregory Kasper and Nicholas Heinke, all of the SEC’s Denver Regional Office. The SEC’s investigation was conducted by Mr. Cates, with assistance from Daniel Konosky, and was supervised by Ian Karpel and Mr. Heinke. The SEC acknowledges the assistance and cooperation of the Financial Industry Regulatory Authority.