UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 44419 / June 13, 2001
Administrative Proceedings
File No. 3-10150
_________________________________________________________________
In the Matter of
ALL-TECH DIRECT, INC., f/k/a ALL-TECH
INVESTMENT GROUP, INC.,
HARRY LEFKOWITZ, MARK SHEFTS,
LISA ESPOSITO, RALPH ZULFERINO,
DAVID WALDMAN, ADAM LEEDS, and
BARRY PARISH
Respondents.
_________________________________________________________________
ORDER MAKING FINDINGS
IMPOSING REMEDIAL
SANCTIONS AND ISSUING
CEASE-AND-DESIST ORDER
AGAINST DAVID WALDMAN
I.
On February 22, 2000, the Securities and Exchange Commission
("Commission") instituted public administrative and cease-and-desist
proceedings pursuant to Sections 15(b) and 21C of the Securities
Exchange Act of 1934 ("Exchange Act") against All-Tech Direct, Inc.
f/k/a All-Tech Investment Group, Inc. ("All-Tech"), Harry Lefkowitz,
Mark Shefts, Lisa Esposito, Ralph Zulferino, David Waldman
("Waldman"), Adam Leeds, and Barry Parish.
II.
Waldman has submitted an Offer of Settlement ("Offer"), which the
Commission has determined to accept. Solely for the purpose of these
proceedings and any other proceeding brought by or on behalf of the
Commission, or in which the Commission is a party, and without
admitting or denying the findings contained herein, except for the
jurisdiction of the Commission +over him and over the subject matter
of these proceedings, which are admitted, Waldman consents to the
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
ALL-TECH DIRECT, INC., f/k/a ALL-TECH
ORDER MAKING FINDINGS IMPOSING REMEDIAL SANCTIONS AND ISSUING CEASE-AND-DESIST ORDER AGAINST
On February 22, 2000, the Securities and Exchange Commission instituted public administrative
Waldman, 58, resides in Monsey, New York and was employed by All-Tech from approximately
OTHER RELEVANT RESPONDENT
All-Tech offers day-trading services to customers through at least twenty-one franchised
UNLAWFUL EXTENSION OF MARGIN CREDIT
Throughout 1998, when the equity in certain customer margin accounts fell below the minimum
All-Tech should not have supplied those customers with additional extensions of credit.
Waldman's account was one of the associated person accounts from which All-Tech drew funds
Customers paid a total of $1,701 in fees for this financial assistance provided by All-Tech
By reason of the foregoing, All-Tech willfully violated Section 7of the Exchange Act in that
Waldman cease and desist, pursuant to Section 21C of the Exchange Act, from causing any
Waldman shall, within thirty days of the entry of this Order, pay a civil money penalty in
Such payment shall be made by United States postal money order, certified check, bank
er letter and money order or check shall be sent to Zachary Brez, Northeast Regional Office,
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