UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 44417 / 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
AND IMPOSING REMEDIAL
SANCTIONS AGAINST
MARK SHEFTS
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
("Lefkowitz"), Mark Shefts ("Shefts"), Lisa Esposito ("Esposito"),
Ralph Zulferino ("Zulferino"), David Waldman ("Waldman"), Adam Leeds
("Leeds"), and Barry Parish.
II.
Shefts 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, Shefts consents to the entry of
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
ALL-TECH DIRECT, INC., f/k/a ALL-TECH
INVESTMENT GROUP, INC., HARRY LEFKOWITZ, MARK SHEFTS, LISA ESPOSITO, RALPH ZULFERINO,
ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS AGAINST MARK SHEFTS
On February 22, 2000, the Securities and Exchange Commission instituted public administrative
Shefts, 42, is, and was during the relevant period, a registered representative and President
All-Tech offers day-trading services to customers through its principal office and fourteen
Lefkowitz, 43, is, and was during the relevant period, Vice-President of Operations for
Lefkowitz works in All-Tech's headquarters in Montvale, New Jersey and resides in Goshen, New
Throughout 1998, when the equity in certain margin accounts held by day-trading customers
The customers who received these loans could not otherwise cover the margin calls issued by
Regulation T prohibited All-Tech from supplying those customers with additional extensions of
H. The accounts held by associated persons from which All-Tech extended credit in
Before making any loans from the Waldman or Z-Tech accounts, All-Tech required each customer
Shefts knew of certain of the loans from the Z-Tech account that were used by All-Tech
Rule 10b-16 promulgated under the Exchange Act by directly or indirectly extending credit in
the balance at the beginning of the period; the date, amount and a brief description of each
By reason of the foregoing, Shefts failed reasonably to supervise Esposito and Lefkowitz with
On the basis of the foregoing, the Commission deems it appropriate and in the public interest
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