SEC INSTITUTES ADMINISTRATIVE PROCEEDINGS AGAINST FORMER STERLING FOSTER REGISTERED REPRESENTATIVES
On September 3, the Commission issued an Order Instituting
Administrative Proceedings and Notice of Hearing Pursuant to Section
15(b) of the Securities Exchange Act of 1934 (Order) against David
Abish, Christopher Betts, Mark Charvat, James Corcoran, Paul Feeny,
Robert Pratt, Mario Rodriguez, Scott Siegel, Andrew Tursi, and David
Weeks (collectively, the Respondents), all of whom are former registered
representatives of Sterling Foster & Company, Inc. (Sterling Foster).
During February and March 2000, the U.S. Attorney’s Office for the
Southern District of New York charged each of the Respondents with
defrauding investors through the use of fraudulent sales practices while
at Sterling Foster. The Division of Enforcement alleges that between
June 2000 and May 2002, each of the Respondents was either found guilty
or entered guilty pleas in those criminal matters.
A hearing before an administrative law judge will be scheduled to
determine whether the allegations in the order are true, to provide the
Respondents an opportunity to dispute these allegations, and to
determine what remedial action, if any, is appropriate in the public
interest.
The Order directed the Administrative Law Judge to issue an initial
decision within 210 days from the date of service of the Order. (Rel.
34-50316; File No. 3-11632) |
