June 27, 2022
SEC Final Judgment
The SEC obtained a final judgment against Patrick Churchville, the owner and president ClearPath Wealth Management, LLC. His fraudulent conduct, including misallocated and misappropriated assets, caused at least $27 million in losses. Churchville allegedly stole $2.5 million of investor’s funds to purchase a waterfront home. Furthermore, he engaged in a Ponzi scheme using investors’ money to pay off prior investments. The final judgment orders him to pay disgorgement, prejudgment interest, and a civil penalty.