UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7781 / November 23, 1999
SECURITIES EXCHANGE ACT OF 1934
Release No. 42171 / November 23, 1999
Administrative Proceeding File No. 3-9367
In the Matter of
AMERICORP SECURITIES, INC.
and DREW EDGAR SCHAEFER,
Respondents
NOTICE OF PROPOSED
PLAN OF DISGORGEMENT
DISTRIBUTION AND
OPPORTUNITY FOR COMMENT
BY THIRD PARTIES
Notice is hereby given, pursuant to Rule 612 of the Rules of Practice
of the United States Securities and Exchange Commission
("Commission"), 17 C.F.R. 201.612, that the Division of Enforcement
("Division") has filed its proposed Plan of Disgorgement Distribution
("Distribution Plan") in the above matter with the Commission.
OPPORTUNITY TO COMMENT
Pursuant to this notice, all interested parties are advised that the
Distribution Plan may be obtained by submitting a written request to
Timothy G. Hansen, Esq., United States Securities and Exchange
Commission, 7 World Trade Center, 13th Floor, New York, New York
10048. Further, all persons desiring to comment on the Disgorgement
Plan may submit their views, in writing, no later than December 23,
1999 to the Office of the Secretary, United States Securities and
Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549.
THE DISTRIBUTION PLAN
Pursuant to an order entered by the Commission on consent on August
11, 1999, Drew Edgar Schaefer ("Schaefer") paid to the Commission a
total of $200,000 in disgoregment. The disgorgement represents a
portion of Americorp Securities, Inc.'s ("Americorp") and Schaefer's
alleged unjust enrichment from a fraudulent scheme involving the
initial public offering ("IPO") of securities in PHC, Inc. ("PHC").
Specifically, Americorp and Schaefer violated the Securities Act of
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
NOTICE OF PROPOSED PLAN OF DISGORGEMENT DISTRIBUTION AND OPPORTUNITY FOR COMMENT BY THIRD
Notice is hereby given, pursuant to Rule 612 of the Rules of Practice of the United States
Pursuant to this notice, all interested parties are advised that the Distribution Plan may be
Further, all persons desiring to comment on the Disgorgement Plan may submit their views, in
Pursuant to an order entered by the Commission on consent on August 11, 1999, Drew Edgar
The disgorgement represents a portion of Americorp Securities, Inc.'s and Schaefer's alleged
Specifically, Americorp and Schaefer violated the Securities Act of 1933 and the Securities
The affected accounts are all retail customer accounts in which purchase orders for PHC
Affected Accounts, however, shall not include the accounts of Respondents or any officers,
The Distribution Plan provides that the holders of the Affected Accounts are entitled to
Each Affected Account's pro rata share shall be calculated as follows The disgorgement amount
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