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NEW YORK, NY – The top dog at Edison Nation, Christopher Ferguson, and a consultant, Brian McFadden, just admitted to a scheme to juice the company’s numbers, according to federal prosecutors in Manhattan. Both men pleaded guilty to falsifying records submitted to the Financial Industry Regulatory Authority (FINRA), a watchdog for the stock market.
The bust centers around a big claim Edison Nation made in April 2020: over $10 million in orders for PPE – hand sanitizer and masks – as the COVID-19 pandemic hit. Turns out, a key $9 million purchase order fell through before the company blasted that press release, meaning the claim was a straight-up lie.
Ferguson, the CEO and chairman, and McFadden cooked the books to try and cover it up, submitting fake records to FINRA after the agency asked for proof. Prosecutors say the pair intentionally misled regulators and investors. Both men pled guilty on January 28th and March 16th, 2026 respectively, before U.S. District Judge Colleen McMahon.
“Edison Nation claimed to have over $10 million in orders,” U.S. Attorney Jay Clayton stated. “When FINRA requested documentation to support that, CEO Christopher Ferguson and consultant Brian McFadden caused the company to submit falsified documents. There is no place for that conduct in our markets.”