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1
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SEC ADMINISTRATIVE LAW JUDGE DECISION
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EXTRACTED KEY WORDS
SECURITIES FACTS OIP RICHMOND COMMISSION EXCHANGE ACT INJUNCTION UNDISPUTED FACTS STATEMENT VIOLATIONS JUDGEMENT ADMINISTRATIVE LAW JUDGE PURSUANT MOTION ALLEGES DISTRICT COURT MATERIAL FACTS RMIB MICHAEL BROKER SUMMARY DISPOSITION PRACTICE PARTY INVESTORS MATTER INTERNET BANK PONZI SCHEME REVIEW CRIMINAL CONVICTION |
Initial Decision of an SEC Administrative Law Judge
Michael D. Richmond
INITIAL DECISION RELEASE NO. 224
ADMINISTRATIVE PROCEEDING
FILE NO. 3-10848
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
_________________________________________________________________
In the Matter of
Michael D. Richmond
_________________________________________________________________
INITIAL DECISION
February 25, 2003
APPEARANCES Linda B. Bridgman and Robert B. Barry for the Division of
Enforcement, Securities and Exchange Commission
Michael D. Richmond,
BEFORE Robert G. Mahony, Administrative Law Judge
BACKGROUND
On July 29, 2002, the Securities and Exchange Commission (Commission)
issued an Order Instituting Public Administrative Proceedings and
Notice of Hearing Pursuant To Section 15(b) of the Securities Exchange
Act of 1934 (OIP) against Respondent Michael D. Richmond (Richmond or
Respondent). Prior to the initiation of this administrative
proceeding, Respondent was temporarily and then permanently enjoined
from committing further violations of the federal securities laws.
The OIP alleges that from at least October 1994 until August 1998,
Richmond was associated as a registered representative with Washington
Square Securities, Inc. (WSSI). It further alleges that on July 15,
1998, the Commission filed a complaint in the U.S. District Court for
the District of Massachusetts (District Court) against Richmond, ,
Civil Action No. 98-11378-NG (Injunctive Action); the OIP recites the
specific allegations therein alleging Richmond violated Sections 5(a),
5(c), and 17(a) of the Securities Act of 1933 (Securities Act), and
Sections 10(b) and 15(a) of the Securities Exchange Act of 1934
SNIPPETS:
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