UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7991/June 29, 2001
SECURITIES EXCHANGE ACT OF 1934
Release No. 44493/June 29, 2001
ADMINISTRATIVE PROCEEDING
File No. 3-10467
_________________________________________________________________
In the Matter of
VAN R. LEWIS III
_________________________________________________________________
ORDER ENTERING DEFAULT,
MAKING FINDINGS, AND
IMPOSING REMEDIAL
SANCTION
The Securities and Exchange Commission (Commission) issued its Order
Instituting Proceedings (OIP) on May 3, 2001. On June 5, 2001, the
Division of Enforcement (Division) filed a declaration from
Respondent, in which Respondent acknowledged receipt of the OIP on May
8, 2001. Respondent's declaration also acknowledged that his answer to
the OIP was due within twenty days after May 8, 2001. As of today, no
answer has been received.
On June 14, 2001, the Division moved for the entry of an order finding
Respondent in default, deeming the allegations in the OIP to be true,
and barring Respondent from association with any broker or dealer. As
of today, no opposition to the Division's motion has been received.
As provided by Rules 155(a)(2) and 220(f) of the Commission's Rules of
Practice, 17 C.F.R. §§ 201.155(a)(2) and 201.220(f), Respondent is in
default because he has failed to answer the OIP and because he has
failed to respond to a dispositive motion.
Accordingly, I find that the allegations in the OIP are true
From 1988 through at least May 3, 2001, Van R. Lewis, III (Lewis), a
Longview, Texas resident, had been a registered representative and
principal associated with Sunpoint Securities, Inc. (Sunpoint), a
broker-dealer registered with the Commission pursuant to Section 15(b)
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
VAN R. LEWIS III
The Securities and Exchange Commission issued its Order Instituting Proceedings on May 3,
On June 5, 2001, the Division of Enforcement filed a declaration from Respondent, in which
On June 14, 2001, the Division moved for the entry of an order finding Respondent in default,
no opposition to the Division's motion has been received.
From 1988 through at least May 3, 2001, Van R. Lewis, III, a Longview, Texas resident, had
Lewis was also the chief executive officer and majority shareholder of Sunpoint until
On May 9, 2000, a permanent injunction was entered against Lewis in the United States
The Commission's Complaint alleged, among other things, that from approximately December 1997
The Complaint further alleged that in December 1997, when Sunpoint's auditors discovered that
In addition, beginning in approximately December 1997, acting pursuant to a directive from
The net result of these adjustments was to lower substantially the balance in the omnibus
According to the Complaint, as a result of this scheme to divert customer funds, between
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