June 13, 2025 – In a significant enforcement action, the U.S. Securities and Exchange Commission (SEC) has charged Roderick Vanderbilt, the former Executive Chairman of Vinco Ventures, Inc., with defrauding investors through a series of false and misleading statements.
The charges were filed in the U.S. District Court for the Southern District of New York.
According to the SEC’s complaint, Vanderbilt was involved in a scheme designed to deceive the investing public while diverting corporate assets for personal gain.
Specifically, the SEC alleges that Vanderbilt made material misrepresentations in official filings and failed to disclose the significant influence of Theodore J. Farnsworth, a business associate and former romantic partner, over the company’s operations.
Despite Farnsworth’s lack of a formal role at Vinco, he allegedly exercised control behind the scenes.
In October 2021, Vanderbilt was appointed to Vinco’s Board of Directors, where he purportedly signed off on various SEC filings, including proxy statements that misrepresented the company’s leadership and operational status.
The SEC’s complaint details how these misrepresentations misled investors regarding Vinco’s potential to generate revenue.
As part of the ongoing legal proceedings, Vanderbilt has consented to a bifurcated settlement, pending court approval, which includes permanent injunctions against future violations of securities laws and a bar from serving as an officer or director.
Furthermore, the SEC is seeking disgorgement of ill-gotten gains, along with prejudgment interest and civil penalties, which will be determined by the court later.
In a parallel criminal case, Vanderbilt has already pleaded guilty to similar charges brought by the Department of Justice.
The SEC’s investigation was conducted by a team of officials from the New York Regional Office, with ongoing litigation led by Travis Hill and supervised by Daniel Loss.
Also Read: A Major Market Maker Now Gets Away With Illegal Reporting
The Petition: A Cry for Justice
On April 9, 2025, the petition titled “Urgent Petition to Investigate and Halt Takeover of Vinco Ventures, Inc.” was published, addressed to the Federal Bureau of Investigation (FBI).
The petition, backed by shareholders and the Retail United Advocacy Group, alleges that the takeover of Vinco Ventures by Mathew Jacob Fernane is fraught with red flags.
The core concern?
Fernane’s alleged criminal history, including convictions for drug trafficking and securities fraud, which shareholders fear could jeopardize the company’s integrity and their investments.
The petitioners are not mincing words.
They’ve called for two immediate actions:
- A Comprehensive Investigation: A thorough probe into Fernane’s background, his criminal convictions, and his current role in Vinco Ventures.
- Halting the Takeover: A suspension of the transaction until the investigation ensures transparency and protects shareholder interests.
This isn’t just about one individual—it’s about the broader implications for Vinco Ventures stock and the trust that retail investors have placed in the company.
But I’m curious to know what you think — leave your thoughts below.
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