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Connerton was working with a chemical engineer when they started Safety Technologies in 2006.
The problems began two years later, when Connerton’s partner died and the notes he left behind were illegible and too difficult to understand for the CEO.
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“We charge Connerton with lying about the state of his business and exploiting personal connections to lure in investors,” said Paul Levenson, director of the SEC’s Boston office.
Since 2006, Connerton has raised .3 million by selling stakes in Safety Technologies LLC, which he claimed was on the brink of a licensing deal or sale to a major glove manufacturer, according to the complaint.
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