UNITED STATES OF AMERICA
SECURITIES EXCHANGE ACT OF 1934
ADMINISTRATIVE PROCEEDINGS INSTITUTED AGAINST RICHARD S. CHANCIS, MICHAEL J. ANTON, ANTONIO R. CAMPOS, LUIS R. LOZA AND WAYNE W. SCHUMACHER
On May 4, 2001, the Commission entered an Order Instituting Administrative Proceedings Pursuant to Sections 15(b) and 19(h) of the Securities Exchange Act of 1934 (Order) against Richard S. Chancis (Chancis), Michael J. Anton (Anton), Antonio R. Campos (Campos), Luis R. Loza (Loza) and Wayne W. Schumacher (Schumacher) based on their convictions for conspiracy to commit securities fraud, mail fraud and wire fraud. United States v. Filippino, et al., Case No. 98-8168-CR-RYSKAMP (S.D. Fla. 1998).
The Order alleges that Chancis, Anton, Campos, Loza and Schumacher each pled guilty to count one of an indictment charging them with conspiracy to commit securities fraud, mail fraud and wire fraud. The indictment alleged that while employed as registered representatives at various registered broker-dealers during various periods between 1993 and June 1995, Chancis, Anton, Campos, Loza and Schumacher accepted undisclosed compensation from a promoter for inducing their clients to purchase the securities of certain issuers affiliated with the promoter. Each was sentenced to various prison terms and/or probation and ordered to pay restitution to the extent that their clients suffered losses.
A hearing before an administrative law judge will be scheduled to determine what, if any, remedial action is appropriate in the public interest.