UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 42766 / May 8, 2000
Administrative Proceedings
File No. 3-10150
__________________________________________
In the Matter of
ORDER MAKING FINDINGS,
ALL-TECH DIRECT, INC., f/k/a ALL-TECH IMPOSING REMEDIAL
INVESTMENT GROUP, INC., SANCTIONS AND ISSUING
HARRY LEFKOWITZ, MARK SHEFTS, CEASE-AND-DESIST ORDER
LISA ESPOSITO, RALPH ZULFERINO, DAVID AGAINST ADAM LEEDS
WALDMAN, ADAM LEEDS, and
BARRY PARISH,
Respondents.
__________________________________________
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., Harry Lefkowitz, Mark Shefts,
Lisa Esposito, Ralph Zulferino, David Waldman, Adam Leeds ("Leeds"),
and Barry Parish.
II.
Leeds 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, Leeds consents to the entry of
the findings, a cease-and-desist order, and the imposition of the
remedial sanctions set forth herein.
III.
On the basis of this Order and the Offer submitted by Leeds, the
Commission finds that
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
ALL-TECH DIRECT, INC., f/k/a ALL-TECH IMPOSING REMEDIAL
LISA ESPOSITO, RALPH ZULFERINO, DAVID AGAINST ADAM LEEDS
On February 22, 2000, the Securities and Exchange Commission instituted public administrative
Solely for the purpose of these proceedings and any other proceeding brought by or on behalf
, 31, resides in San Diego, California and was a registered representative of All-Tech
OTHER RELEVANT RESPONDENT
All-Tech offers day-trading services to customers through at least twenty-one branch offices
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.
Leeds's account was one of the associated person accounts from which All-Tech drew funds when
Specifically, from in or about April through September 1998, while Leeds was an associated
These uncollateralized loans from Leeds's account not only violated Regulation T, but also
To effect the transfer of funds from Leeds's account to the borrower, Leeds or the secretary
On the basis of the foregoing, the Commission deems it appropriate and in the public interest
Leeds cease and desist, pursuant to Section 21C of the Exchange Act, from causing any
Leeds shall, within thirty days of the entry of this Order, pay a civil money penalty in the
Such payment shall be made by United States postal money order, certified check, bank
letter and money order or check shall be sent to Mark Danzi, Staff Attorney, Northeast Regional
In applying the term "willful" in Commission administrative proceedings instituted pursuant
In this case, as in all Commission administrative proceedings charging a willful violation
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