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1
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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
INVESTIGATOR SECURITIES COMMISSION BANK SECURITIES ACT PROCEEDING ARIZONA INVESTIGATOR OFFERING FUNDS PRIME BANK RESPONDENT TRADING INSTITUTING FINDINGS BANK INSTRUMENTS SOLICITATIONS VIOLATION PURSUANT BANK DEBENTURE BLOCKED FUNDS EXISTENCE BOYD DAVID SANCTIONS BANKING HIGH RATES AGENCIES FRAUDULENT OFFERINGS WEBSITE OFFERING |
UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
Securities Act of 1933
Release No.7679 / May 11, 1999
Administrative Proceeding
File No. 3-9895
In the Matter of
David V. Francis, II
Respondent
ORDER INSTITUTING PUBLIC
PROCEEDINGS PURSUANT TO
SECTION 8A OF THE SECURITIES
ACT OF 1933, MAKING FINDINGS
AND IMPOSING REMEDIAL SANCTIONS
I.
The Securities and Exchange Commission (the "Commission") deems it
appropriate and in the public interest that public administrative
proceedings be instituted pursuant to Section 8A of the Securities Act
of 1933 ("Securities Act") against David V. Francis, II (hereinafter,
"Francis" or "Respondent").
In anticipation of the institution of this proceeding, Francis has
submitted an Offer of Settlement ("Offer") which the Commission has
determined to accept. Solely for the purposes of this proceeding and
any other proceedings 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 that he admits that the Commission
has jurisdiction over him and over the subject matter of this
proceeding, Respondent consents to the issuance of this Order
Instituting Public Proceedings Pursuant to Section 8A of the
Securities Act of 1933, Making Findings and Imposing Remedial
Sanctions ("Order").
Accordingly, IT IS ORDERED that proceedings against Respondent be, and
hereby are, instituted.
II.
The Commission makes the following findings
A. From June through July 1998, David V. Francis, II, 34, lived in
SNIPPETS:
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