Litigation Releases (David Hudzik)

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26455 / December 23, 2025

Securities and Exchange Commission v. Native American Energy Group, Inc., et al., No. 23-cv-4455 (E.D.N.Y. filed June 16, 2023)

SEC Obtains Final Consent Judgment as to Unregistered Broker-Dealer in Alleged Offering Fraud

On December 11, 2025, the U.S. District Court for the Eastern District of New York entered a final consent judgment as to David Hudzik in the SEC's civil enforcement action against Native American Energy Group, Inc., its CEO, Joseph D'Arrigo, and Hudzik, a former consultant for Native American Energy Group. Entry of the final consent judgment resolved the SEC's claims against Hudzik.

The SEC's complaint, filed on June 16, 2023, alleged that Hudzik acted as an unregistered broker-dealer, sold unregistered shares of Native American Energy Group, and misrepresented to prospective investors the commission he stood to receive from the proceeds.

Without admitting or denying the allegations in the SEC's complaint, Hudzik consented to the entry of a final judgment that permanently enjoins him from violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. In addition, the judgment orders Hudzik to pay disgorgement of $70,000, plus prejudgment interest thereon of $17,472.10, and a civil penalty of $70,000, and bars Hudzik from serving as an officer or director of a public company, and from participating in any offering of a penny stock, except for purchases or sales in his personal account.

The SEC's litigation is led by David Zetlin-Jones, Benjamin Mishkin, and Gerald Gross, all of the SEC's New York Regional Office. The matter was supervised by Sheldon L. Pollock.