Shapiro was CEO when MDNT got suspended by the SEC, so it is obvious that the SEC needed to protect investors and the public from what Shapiro was doing.
Jake was the puppet master, getting Manu to sign-off on all those financial deals that Jake orchestrated.
We will see if Jake gets charged by the SEC as part of the securities fraud at MDNT, but it might take another year or two for the charges to be handed down, IMO.