Former Chattanooga businessman John J. Woods was charged with one felony count of wire fraud stemming from an alleged Ponzi scheme in which federal regulators accused him of bilking investors.
The SEC filed settlement agreements, which were approved by a judge, the same day. The SEC alleged in the lawsuit that Carl Iberger, the CFO of Connecticut- based medical devices company Precipio, tipped off his son that the company had signed an agreement to distribute COVID-19 test kits that were approved by the Food and Drug Administration.