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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
ZELENKA CAMP SECURITIES EXCHANGE ACT ADMINISTRATIVE PROCEEDING INSTITUTING COMMISSION BERNARD ZELENKA SECURITIES INVESTOR PROTECTION FUNDS VIOLATION LIQUIDATION ALLEGES CUSTOMERS REPAY LOANS SATISFY JUDGEMENT PURCHASE ANTIQUES ARTWORK CASH WITHDRAWALS DISGORGEMENT PREJUDGMENT CIVIL PENALTY ALLEGATIONS REMEDIAL ACTION CEASE COMMITTING CAUSING FUTURE VIOLATION FEDERAL SECURITIES LAWS |
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UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 37760 / September 30, 1996
Administrative Proceeding
File 3-9130
ADMINISTRATIVE PROCEEDINGS INSTITUTED AGAINST BERNARD ZELENKA
On September 30, 1996, the Commission instituted
administrative and cease-and-desist proceedings pursuant to
Sections 15(b), 19(h), and 21C of the Securities Exchange Act of
1934 and Section 14(b) of the Securities Investor Protection Act
of 1970 against Bernard Zelenka ("Zelenka"), president of H.L.
Camp and Company, Inc. ("HL Camp"). HL Camp is a registered
broker-dealer formerly operating in Nashville, Tennessee.
Zelenka is the sole owner of Summit Financial, Inc., the parent
company of HL Camp. On March 1, 1996, the district court
appointed a trustee from the Securities Investor Protection
Corporation to oversee the liquidation of HL Camp.
The Order Instituting Proceedings ("Order") alleges that
from July 1995 through January 1996, Zelenka misappropriated
approximately $1,372,069 from at least 28 customers and converted
these funds to his personal use. He used these funds to, among
other things, repay loans, satisfy a judgment, purchase antiques
and artwork and make $165,136 in cash withdrawals.
The Order seeks disgorgement, prejudgment interest and a
civil penalty. A hearing will be scheduled to determine whether
the allegations are true, whether any remedial action should be
ordered, and whether Zelenka should be ordered to cease and
desist from committing or causing a violation and any future
violation of the federal securities laws.
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