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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
SECURITIES EXCHANGE COMMISSION CIVIL PENALTY DANIEL DISTRICT JUDGEMENT PAYMENT ACCOUNTS PAY DISGORGEMENT PREJUDGMENT REQUIRING DEFENDANT DANIEL COMPEL ADMINISTRATIVE PROCEEDING MATTER ANTIFRAUD PROVISIONS FEDERAL SECURITIES LAWS CHURNING CUSTOMERS ENGAGING MISCONDUCT ELDERLY WIDOW PAID COMPLAINT ORDER ISSUED PURSUANT SECURITIES EXCHANGE ACT PAYING PRUDENTIAL SECURITIES |
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 17447 / March 28, 2002
Securities and Exchange Commission v. Daniel L. Zessinger, Civil
Action No. 4 01-CV-01222DJS (E.D.M. March 14, 2002)
The Securities and Exchange Commission announced today that the
Honorable Rodney W. Sippel, United States District Judge for the
Eastern District of Missouri, granted the Commission's motion for
summary judgment and entered a judgment against defendant Daniel L.
Zessinger ("Zessinger") to compel his payment of $40,601.41, plus a
civil penalty of $100,000.
On October 8, 1996, the Commission's order issued in the
administrative proceeding In the Matter of Daniel L. Zessinger, File
No. 3-8838, found that Zessinger violated the antifraud provisions of
the federal securities laws by churning the accounts of his customers,
and engaging in misconduct regarding the account of an elderly widow.
Zessinger was ordered to pay disgorgement of $19,340 and prejudgment
interest of $7,652, with continued interest accrual. He was also
ordered to pay a civil penalty of $100,000. Zessinger has not paid any
of the required payments.
On August 2, 2001, the Commission filed a Complaint which sought to
have an order issued pursuant to Section 21(e) of the Securities
Exchange Act of 1934, requiring Zessinger to comply with the
Commission's order by paying the ordered disgorgement, prejudgment
interest, and civil penalty.
Zessinger was a registered representative of Prudential Securities,
Inc.
See also L. R. No. (March 14, 2002)
_________________________________________________________________
Modified 03/28/2002
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