In The Matter Of Steven Yamashiro:
The Securities and Exchange Commission recently announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940, Making Findings and Imposing Remedial Sanctions (Order) against Steven Boyle Yamashiro (Respondent). Yamashiro consented to the issuance of the Order. The Order finds that on December 27, 2011, Yamashiro pled guilty to two counts of wire fraud in violation of Title 18, United States Code, Section 1343, and one count of money laundering in violation of Title 18, United States Code, Section 1957 before the United States District Court for the Central District of California, in United States v. Steven Boyle Yamashiro, CR No. 11-217-ODW.
The Order further finds that the counts of the indictment to which Yamashiro pled guilty alleged that Yamashiro knowingly and with the intent to defraud, devised, participated in, and executed a scheme to defraud his clients and to obtain money and property from his clients by making materially false and misleading representations and promises, and that he executed the scheme to defraud by means of wire and radio communications in interstate and foreign commerce.
Based on the above, the Order bars Respondent from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization; and bars Respondent from participating in any offering of a penny stock, including: acting as a promoter, finder, consultant, agent or other person who engages in activities with a broker, dealer or issuer for purposes of the issuance or trading in any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock. (Rel. 34-67789; File No. 3-15010)
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