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Judge Orders $9.7M Payment in Govil's Fraud Case

1/21/2026

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Summary

Story summary

A Manhattan judge ordered Aron Govil, founder and former CEO of Cemtrex Inc., to pay $9.7 million in ill-gotten gains from securities fraud, as ruled by the U.S. Securities and Exchange Commission (SEC).
The SEC declined to comment, and Govil's counsel did not respond.
A 2023 ruling by the Second U.S. Circuit Court of Appeals narrowed the SEC's disgorgement authority when no harmed victims existed, prompting a recalculation of damages.

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Story summary

A Manhattan judge ordered Aron Govil, founder and former CEO of Cemtrex Inc., to pay $9.7 million in ill-gotten gains from securities fraud, as ruled by the U.S. Securities and Exchange Commission (SEC).
The SEC declined to comment, and Govil's counsel did not respond.
A 2023 ruling by the Second U.S. Circuit Court of Appeals narrowed the SEC's disgorgement authority when no harmed victims existed, prompting a recalculation of damages.