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SEC v OLAWANDE A. AGUNLOYE Click to find out why . . .



Keywords & Phrases
CaseNo: 34-43048, Defendant: Olawande A. Agunloye, Plaintiff: SEC, UniqueCaseRef: SEC>34-43048, Agunloye, Commission, Nichi, Securities, Investors, Exchange Act, Proceeding, Judgement, Administrative Proceedings, Instituting, Findings, Sanctions, Purported Ipo, Funds, United States, Respondent, Administrative Proceedings Pursuant, Imposing, Hereby, York, Representations, Wise Choice, Brokerage, Injunctive Action, Admitting, Basis, Dealers, Civil, District , ContentID: 120244297

Case Documents
1 2000-07-18 SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below  ] ItemID: 111031
3 pages
HTML
Total Documents: 1 document , 3 pages
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1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS
COMMISSION
NICHI
SECURITIES
INVESTORS
EXCHANGE ACT
PROCEEDING
JUDGEMENT
ADMINISTRATIVE PROCEEDINGS
INSTITUTING
FINDINGS
SANCTIONS
PURPORTED IPO
FUNDS
UNITED STATES
RESPONDENT
ADMINISTRATIVE PROCEEDINGS PURSUANT
IMPOSING
HEREBY
YORK
REPRESENTATIONS
WISE CHOICE
BROKERAGE
INJUNCTIVE ACTION
ADMITTING
BASIS
DEALERS
CIVIL
DISTRICT
COURT
   UNITED STATES OF AMERICA
   Before the
   SECURITIES AND EXCHANGE COMMISSION

   Securities Exchange Act of 1934
   Release No. 43048 / July 18, 2000

   Administrative Proceeding
   File No. 3-10254
     _________________________________________________________________

   In the Matter of

   OLAWANDE A. AGUNLOYE,

   Respondent.
     _________________________________________________________________

     ORDER INSTITUTING
   ADMINISTRATIVE PROCEEDINGS
   PURSUANT TO SECTIONS 15(b)
   AND 19(h) OF THE SECURITIES
   EXCHANGE ACT OF 1934,
   MAKING FINDINGS, AND IMPOSING
   REMEDIAL SANCTIONS

   I.

   The Securities and Exchange Commission ("Commission") deems it
   appropriate in the public interest and for the protection of investors
   that public administrative proceedings pursuant to Sections 15(b)(6)
   and 19(h) of the Securities Exchange Act of 1934 ("Exchange Act") be,
   and hereby are, instituted against respondent Olawande A. Agunloye
   ("Agunloye").

   II.

   In anticipation of the institution of this proceeding, Agunloye has
   submitted an Offer of Settlement ("Offer"), which the Commission has
   determined is in the public interest to accept. Solely for the purpose
   of this proceeding, 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 set forth herein, except as to the
   fact that a Final Judgment By Default was entered against him as set
   forth in paragraph III.C. below, and the jurisdiction of the
   Commission over him and over the matters set forth in this Order
   Instituting Administrative Proceedings Pursuant to Sections 15(b) and
   19(h) of the Securities Exchange Act of 1934, Making Findings, and
SNIPPETS:
  • SECURITIES AND EXCHANGE COMMISSION
  • ORDER INSTITUTING ADMINISTRATIVE PROCEEDINGS
  • EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS
  • The Securities and Exchange Commission deems it appropriate in the public interest and for
  • In anticipation of the institution of this proceeding, Agunloye has submitted an Offer of
  • Solely for the purpose of this proceeding, and any other proceeding brought by or on behalf
  • below, and the jurisdiction of the Commission over him and over the matters set forth in this
  • Agunloye was born on November 9, 1972 and is a resident of Queens, New York.
  • Agunloye was associated from February 1995 to June 1998 as a registered representative and
  • Agunloye's registration with the National Association of Securities Dealers was terminated in
  • Since October 1995, Agunloye has been the president, chairman, and controlling shareholder of
  • On March 26, 1998, the Commission filed a civil injunctive action against, among others,
  • On June 30, 1999, the court entered a Final Judgment By Default against Agunloye.
  • From October 1997 through March 1998, Agunloye fraudulently offered and sold unregistered
  • He told investors that they would be able to sell the Nichi stock in the public market at a
  • These representations by Agunloye were materially false and misleading.
  • Agunloye had no reasonable basis in fact to represent to investors that they would be able to
  • Moreover, Agunloye did not establish an escrow account in which to hold investors' funds;
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