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by Mike Caswell

Jon Isaac, a Canadian charged by the U.S. Securities and Exchange Commission for a scheme to inflate the earnings of Nasdaq listing Live Ventures Inc., has reached an out-of-court deal to settle the case. The SEC claimed that Mr. Isaac manipulated the company's books to show higher earnings and then paid a public relations firm $120,000 to send out the figures. (All figures are in U.S. dollars.) As part of the scheme, Mr. Isaac attempted to unload $760,000 worth of stock, the SEC claimed.

Word of Mr. Isaac's settlement is contained in a proposed order that the SEC filed on Monday, June 8, seeking to vacate pretrial dates. The SEC says that it has negotiated an out-of-court settlement with Mr. Isaac and another defendant, Virland Johnson. As a result, the SEC is asking that the judge put off a filing deadline for the case that lands on July 10, 2026.

The SEC has not yet stated what the terms of the settlement are, with those to be released after the regulator has approved the deal (a process that usually takes three months). When it filed the case, the SEC sought disgorgement of Mr. Isaac's gains and an appropriate fine.

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