South Florida Arbitration & Litigation Lawyer Blog
Broker/Dealer and Investment Advisor Fraud, Mismanagement and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq.
April, 2012:
In the Matter of Kenneth E. Marsh et al.
An Administrative Law Judge has issued an Order Making Findings and Imposing Sanctions by Default (Default Order) in Kenneth E. Marsh, Admin. Proc. No. 3-14653. The Securities and Exchange Commission issued its Order Instituting Proceedings (OIP) on December 7, 2011, pursuant to Section 203(f) of the Investment Advisers Act of 1940. The OIP alleges that from at least 2007 through April 2010, Respondents marketed Gryphon Holdings, Inc. (Gryphon), an unregistered investment adviser by repeatedly making false statements about virtually every aspect of Gryphon’s business, including the scope of the firm’s investment management operations, the past performance of its trading recommendations, the credentials and qualifications of its staff, and the satisfaction of prior clients. The OIP also alleges that Respondents were enjoined from violating the antifraud provisions of the federal securities laws and were criminally convicted of conspiracy and securities fraud violations. The Default Order finds the allegations of the OIP to be true.
In the public interest, the Default Order bars Kenneth E. Marsh, Baldwin Anderson, Robert Anthony Budion, Jeanne M. Lada, and James T. Levier from association with a broker, dealer, investment adviser, municipal securities dealer, transfer agent, and nationally recognized statistical rating organization.