SEC Obtains Final Judgment Against Nicholas Bowerman in Accounting Fraud Case

SEC Litigation Releases

Filed December 23rd, 2025

Detected February 12th, 2026

Summary

The SEC announced it has obtained a final judgment against Nicholas Bowerman, a former finance director at CIRCOR International, for alleged accounting fraud. The judgment includes permanent injunctions, a prohibition from serving in financial roles at public companies, and orders Bowerman to pay disgorgement, interest, and a $75,000 civil penalty.

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The Securities and Exchange Commission (SEC) has secured a final judgment against Nicholas Bowerman, former finance director at CIRCOR International, in a case involving alleged accounting fraud. The judgment, entered by default on December 23, 2025, permanently enjoins Bowerman from violating antifraud and reporting provisions of securities laws. It also prohibits him from holding accounting or financial reporting positions at public companies and requires him to pay $17,823.80 in disgorgement, $4,148.51 in prejudgment interest, and a $75,000 civil penalty. The SEC's complaint, filed in September 2024, alleged that Bowerman manipulated financial records of CIRCOR's U.K. subsidiary, leading to overstatements in the company's consolidated financial statements for fiscal years 2019 and 2020.

This enforcement action serves as a strong warning to financial professionals regarding the consequences of manipulating accounting records and misleading auditors. Public companies and their finance personnel must ensure robust internal accounting controls and accurate financial reporting to avoid similar violations. While this judgment is against an individual, the underlying allegations highlight the importance of compliance with Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and related rules, as well as internal accounting control provisions. Non-compliance can lead to severe penalties, including injunctions, financial sanctions, and industry bars.

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Nicholas Bowerman

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26482 / February 11, 2026

Securities and Exchange Commission v. Nicholas Bowerman, No. 1:24-cv-12282 (D. Mass. filed Sept. 5, 2024)

SEC Obtains Final Judgment as to Former Finance Director at CIRCOR International in Alleged Accounting Fraud

On December 23, 2025, the United States District Court for the District of Massachusetts entered a final judgment as to Nicholas Bowerman, a former finance director of CIRCOR International Inc., a former public company, in connection with previously-filed accounting fraud charges.

The SEC’s complaint, filed on September 5, 2024, alleges that Bowerman worked at CIRCOR’s U.K.-based business unit, Pipeline Engineering, and, between 2019 and 2021, manipulated CIRCOR’s internal accounting records by falsifying Pipeline Engineering’s financial results before they were included in CIRCOR’s consolidated financial statements. The complaint further alleges that Bowerman concealed his misconduct by manipulating account reconciliations, falsifying certifications, fabricating bank confirmation documents, and misleading CIRCOR’s management and independent auditors. As a result of Bowerman’s conduct, CIRCOR allegedly overstated by millions of dollars its performance for fiscal years 2019 and 2020 and the nine months ending on October 3, 2021.

The final judgment, entered by default, permanently enjoins Bowerman from violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5(a) and (c) thereunder, as well as the books and records provisions of Section 13(b)(5) of the Exchange Act and Rule 13b2-1 thereunder, and internal accounting controls provisions of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rules 13a-1, 13a-11, and 13a-13 thereunder. The final judgment also prohibits Bowerman from acting in an accounting or financial reporting role at a public company in connection with the preparation of financial statements filed with the Commission, providing substantial assistance to a public company in the preparation of financial statements filed with the Commission, or acting as an auditor on a public company audit, and orders Bowerman to pay disgorgement of $17,823.80, prejudgment interest thereon of $4,148.51, and a $75,000 civil penalty.

The SEC’s investigation was conducted by Christine R. O’Neil, Samika N. Osbourne, and Brian R. Higgins, and supervised by Brendan P. McGlynn, all of the SEC’s Philadelphia Regional Office. The SEC’s litigation was conducted by Judson T. Mihok and supervised by Gregory R. Bockin, also of the Philadelphia Regional Office.