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1
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SEC ADMINISTRATIVE LAW JUDGE DECISION
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EXTRACTED KEY WORDS
CONVICTION DIV COMMISSION WIRE FRAUD PROCEEDING BROKER-DEALERS SECURITIES SUMMARY DISPOSITION TRADING FIDELITY PURSUANT VIOLATIONS RESP EXCHANGE ACT OPPOSITION CUSTOMERS TRADES SANCTION OBSTRUCT OIP MOTION CONSPIRACY COMMIT WIRE FRAUD RICHARD ENDEAVORING SCHEME LOSSES DOCKET REVIEW |
Initial Decision of an SEC Administrative Law Judge
Richard P. Callipari and
Thomas J. Connolly
INITIAL DECISION RELEASE NO. 237
ADMINISTRATIVE PROCEEDING
FILE NO. 3-11205
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
_________________________________________________________________
In the Matter of
RICHARD P. CALLIPARI and
THOMAS J. CONNOLLY
_________________________________________________________________
INITIAL DECISION
September 30, 2003
APPEARANCES
Ian D. Roffman and Ellen E. Bober for the Division of Enforcement,
Securities and Exchange Commission
Martin P. Russo of Kurzman Eisenberg Corbin Lever & Goodman, LLP for
Respondent Richard P. Callipari
BEFORE Carol Fox Foelak, Administrative Law Judge
SUMMARY
This Initial Decision bars Richard P. Callipari from association with
any broker-dealer. It is based on his 2003 conviction for fraud and
for endeavoring to obstruct a Commission proceeding. He had engaged in
a scheme with Thomas J. Connolly to free-ride in options. Callipari
was accountable for $428,000 of the $2.39 million in losses to
Fidelity Investments caused by Connolly's trading. Previously,
Connolly defaulted.
I. INTRODUCTION
A. Procedural Background
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