SEC v DAVID SCOTT HEREDIA - Legal Case Documents


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SEC v DAVID SCOTT HEREDIA

Keywords & Phrases

CaseNo: 34-41906, Defendant: David Scott Heredia, Plaintiff: SEC, UniqueCaseRef: SEC>34-41906, Heredia, Securities, Securities Exchange Act, Customers, Administrative Proceeding, Alleges, Fraudulent, Commission, Pursuant, David Scott Heredia, Administrative Proceeding File, Enforcement Alleges, Stratton, Oakmont, Material Misrepresentations, Disclose Material Facts, Solicit Transactions, Issuers, Baseless Price Predictions, Material Nonpublic Information, Unauthorized Purchases, Customer Accounts, Execute Customer Sell, Fraudulent Activities, Suffered Combined Net, Combined Net Losses , ContentID: 120245290

Case Documents

1999-09-23

SEC ADMINISTRATIVE PROCEEDING
[ see first page and extracted highlights below ] ItemID: 112029

1 pages
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Total Documents: 1 document , 1 page. CAUTION. PLEASE NOTE THAT THIS IS A ONE PAGE CASE.

Price: $ 19.95

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1 . SEC ADMINISTRATIVE PROCEEDING

EXTRACTED KEY WORDS

SECURITIES
SECURITIES EXCHANGE ACT
CUSTOMERS
ADMINISTRATIVE PROCEEDING
ALLEGES
FRAUDULENT
COMMISSION
PURSUANT
DAVID SCOTT HEREDIA
ADMINISTRATIVE PROCEEDING FILE
ENFORCEMENT ALLEGES
STRATTON
OAKMONT
MATERIAL MISREPRESENTATIONS
DISCLOSE MATERIAL FACTS
SOLICIT TRANSACTIONS
ISSUERS
BASELESS PRICE PREDICTIONS
MATERIAL NONPUBLIC INFORMATION
UNAUTHORIZED PURCHASES
CUSTOMER ACCOUNTS
EXECUTE CUSTOMER SELL
FRAUDULENT ACTIVITIES
SUFFERED COMBINED NET
COMBINED NET LOSSES
ADMINISTRATIVE LAW JUDGE
ALLEGATIONS
REMEDIAL SANCTIONS

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANE ACT OF 1934
RELEASE NO. 41906 / September 23, 1999

   Administrative Proceeding File No. 3-10025

   ORDER INSTITUTING PUBLIC PROCEEDINGS PURSUANT TO SECTION 15(b) OF THE
   SECURITIES EXCHANGE ACT AGAINST DAVID SCOTT HEREDIA

   The Commission announced today that it issued an Order Instituting
   Public Administrative Proceedings and Notice of Hearing Pursuant to
   Section 15(b)(6) of the Securities Exchange Act of 1934 against David
   Scott Heredia ("Heredia"). In the Order, the Division of Enforcement
   alleges that Heredia, from at least October 4, 1993 until March 17,
   1995, while Heredia was a registered representative of Stratton,
   Oakmont, Inc., repeatedly and fraudulently made material
   misrepresentations and omitted to disclose material facts to customers
   in an effort to solicit transactions in the securities of at least
   three issuers. The Order further alleges that often, Heredia made
   baseless price predictions and fraudulently claimed to possess
   material nonpublic information. The Order further alleges that Heredia
   also made unauthorized purchases of certain of these securities in
   customer accounts and failed to execute customer sell orders. As a
   result of his fraudulent activities, Heredia's customers suffered
   combined net losses of at least $250,000.

   A hearing will be held before an administrative law judge to determine
   whether the allegations in the Order are true and, if so, what, if
   any, remedial sanctions against Heredia are appropriate and in the
   public interest.
     _________________________________________________________________

Modified 09/24/1999

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

Administrative Proceeding File No. 3-10025

The Commission announced today that it issued an Order Instituting Public Administrative

In the Order, the Division of Enforcement alleges that Heredia, from at least October 4, 1993

The Order further alleges that often, Heredia made baseless price predictions and

The Order further alleges that Heredia also made unauthorized purchases of certain of these

As a result of his fraudulent activities, Heredia's customers suffered combined net losses of

A hearing will be held before an administrative law judge to determine whether the


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