SEC v RICHARD D. CHEMA - Legal Case Documents


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SEC v RICHARD D. CHEMA

Keywords & Phrases

CaseNo: 34-40719, Defendant: Richard D. Chema, Plaintiff: SEC, State: WA Washington, UniqueCaseRef: SEC>34-40719, Chema, Broumas, Securities, Violations, Exchange Act, Wash Trades, Jml, Accounts, Broker, Jml Stock, Price, Commission, Manipulating, Broker-dealer, Registered Representatives, Transactions, Appearance, Purchases, Committing, Law Judge, Margin Accounts, Fraudulent, Relevant Period, Investors, Closing Price, Remedial Action, Enforcement, Amex, Respondent , ContentID: 120247202

Case Documents

1998-11-30

SEC COMMISSION OPINION
[ see first page and extracted highlights below ] ItemID: 117352

12 pages
TXT

Total Documents: 1 document , 12 pages

Price: $ 19.95

IVESLCD01 KGI0001

1 . SEC COMMISSION OPINION

EXTRACTED KEY WORDS

BROUMAS
SECURITIES
VIOLATIONS
EXCHANGE ACT
WASH TRADES
LAW
JML
ACCOUNTS
BROKER
JML STOCK
PRICE
COMMISSION
MANIPULATING
BROKER-DEALER
REGISTERED REPRESENTATIVES
TRANSACTIONS
APPEARANCE
PURCHASES
COMMITTING
LAW JUDGE
MARGIN ACCOUNTS
FRAUDULENT
RELEVANT PERIOD
INVESTORS
CLOSING PRICE
REMEDIAL ACTION
ENFORCEMENT
AMEX
RESPONDENT

                          SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.



          SECURITIES EXCHANGE ACT OF 1934
          Rel. No. 40719 / November 30, 1998

          Admin. Proc. File No. 3-8508


                                                :
                     In the Matter of           :
                                                :
                     RICHARD D. CHEMA           :
                   7302 Pilothouse Road         :
                     Burke, Virginia            :
                                                :


          OPINION OF THE COMMISSION

               BROKER-DEALER PROCEEDINGS

                    Grounds for Remedial Action

                         Aiding, Abetting, and Causing Fraudulent and
                         Manipulative Conduct

               Salesman for registered broker-dealer aided, abetted, and
               caused customer's fraudulent and manipulative conduct.
               Held, it is in the public interest to suspend salesman from
               association with any broker or dealer for one year and to
               order him to cease and desist from committing or causing
               further violations.

          APPEARANCES:

               Richard D. Chema, pro se.

               David S. Horowitz and Merri Jo Gillette, for the Division of
          Enforcement.

          Appeal filed:  September 14, 1995
          Briefing completed:  December 6, 1995


                                          I.

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

BROKER-DEALER PROCEEDINGS

Grounds for Remedial Action

caused customer's fraudulent and manipulative conduct.

Richard D. Chema, pro se.

The law judge found that Chema aided, abetted, and caused violations of anti-manipulative and

The law judge concluded that Chema should be suspended from association with any broker or

Our Division of Enforcement appeals both with respect to the length of Chema's exclusion from

Broumas owned about 190,000 shares of JML Class A common stock ("JML stock") which was listed

His stock was held in about 25 margin accounts that Broumas controlled at 14 different

He instructed registered representatives at the firms on each side of the trades to contact