SEC Cease-and-Desist Proceeding
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Scan day: 05 February 2014 UTC
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Description: This SEC order finds that Medco made misrepresentations and fraudulently sold securities to the public in the form of promissory notes.
UNITED STATES OF AMERICA before the SECURITIES AND EXCHANGE COMMISSION SECURITIES ACT OF 1933 Release No. 7571 / September 3, 1998 SECURITIES EXCHANGE ACT OF 1934 Release No. 40396 / September 3, 1998 ADMINISTRATIVE PROCEEDING File No. 3-9693 :ORDER INSTITUTING PUBLIC In the Matter of :ADMINISTRATIVE AND :CEASE-AND-DESIST PR0- S KEVIN C. SPERANZA; :CEEDINGS PURSUANT TO and ROBERT A. MAGGI, :SECTION 8A OF THE :SECURITIES ACT OF 1933 Respondents. :AND SECTIONS 15(b), 19(h) :AND 21C OF THE SECURITIES :EXCHANGE ACT OF 1934, :MAKING FINDINGS AND :IMPOSING REMEDIAL :SANCTIONS I. The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest to institute public administrative and cease-and-desist proceedings pursuant to Section 8A of the Securities Act of 1933 ("Securities Act") and Sections 15(b), 19(h) and 21C of the Securities Exchange Act of 1934 ("Exchange Act") against Respondents Kevin C. Speranza ("Speranza") and Robert A. Maggi ("Maggi"). II. In anticipation of the institution of these proceedings, Respondents Speranza and Maggi submitted Offers of Settlement ("Offers") to the Commission, which the Commission has determined to accept. Solely for the purpose of this proceeding and any other proceeding brought by or on behalf of the Commission, or in which the Commission is a party, and without admitting or denying the findings contained herein, except as to the jurisdiction of the Commission over Respondents Speranza and Maggi and over the subject matter of this proceeding and with respect to Respondent Speranza as to Section III., paragraph 1., below, and with respect to Respondent Maggi as to Section III., paragraph 2., below, which are admitted, Respondents Speranza and Maggi by their Offers consent to the entry of findings and remedial sanctions set forth below. Accordingly, IT IS ORDERED that proceedings pursuant to Section 8A of the Securities Act and Sections 15(b), 19(h) and 21C of the Exchange Act be, and,
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