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SEC charges Accelera with accounting fraud, disclosure violations

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SEC charges Accelera with accounting fraud, disclosure violations

The U.S. Securities and Exchange Commission charged Accelera Innovations Inc. and its shareholder Synergistic Holdings LLC with accounting fraud and disclosure violations.

The regulator, which also named Accelera founder and Chairman Geoffrey Thompson as a defendant, said the company inflated its financial results and included numbers of Behavioral Health Care Associates Ltd., an entity it had never acquired.

The regulator also noted Accelera misled investors about its intellectual property by portraying itself as a software provider in public filings and private solicitations when, in reality, it was not providing software to anyone.

Accelera has retained counsel and will be defending itself against the lawsuit.