Vonage CEO Jeffrey Citron

Holmdel, NJ: (Apr-16-07) The US Securities and Exchange Commission brought charge against NJ based Vonage in connection with a securities fraud investigation dating back to 1993. The charges alleged that Vonage CEO Jeffrey Citron was one of four individuals and one company charged with participating in an extensive fraudulent scheme involving the NASDAQ Stock Market's Small Order Execution System from 1993 to June 2001. Citron and the other defendants were charged with securities fraud and violations of the SEC's broker-dealer books and records and reporting provisions. In a settlement reached, though Citron did not admit to or deny the SEC's charges, he agreed to pay $22.5 million to resolve claims. [VoIP NEWS: VONAGE CEO]

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Published on Apr-20-07