According to the allegations, starting in October 2019, they began using Target’s cash to pay invoices for Performance from third-party vendors, and later made transfers from Target’s accounts to Performance’s accounts. On Tuesday, the regulator settled with Wagner, who admitted to breaching securities rules by using one company’s assets to support the other company. He also admitted to breaching disclosure requirements by certifying the company’s financials and regulatory filings, and issuing news releases that didn’t disclose the transfers. In particular, they must certify that financial disclosures fairly present the financial condition, financial performance and cash flows of the issuer, and they do not contain misrepresentations,” the settlement said. To resolve the allegations, Wagner paid $100,000 to the ASC and agreed to be banned for 15 years.