Action against Respondent, a former representative of a broker-dealer and investment adviser, for alleged fraud.  According to the SEC, Respondent pled guilty in a federal criminal proceeding related to the alleged operation of a Ponzi scheme, was sentenced to a 33-month prison term, and required to pay restitution and forfeiture in the amount of $694,576.71.  The SEC’s order states that Respondent was also found to have operated the scheme in a prior state court judgment and was ordered to pay a civil penalty of $1 million.

SEC Order