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U.S. Securities and Exchange Commission

United States of America
Before the
Securities and Exchange Commission

Securities Exchange Act of 1934
Release No. 45296 / January 16, 2002

Administrative Proceedings
File No. 3-10684


In the Matter of
 
JERRY LYNN RUYLE,
 
Respondent.
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ORDER INSTITUTING PUBLIC PROCEEDINGS, MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS AS TO JERRY LYNN RUYLE

I.

The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Jerry Lynn Ruyle ("Ruyle").

In anticipation of the institution of these proceedings, Ruyle has submitted an Offer of Settlement ("Offer") to the Commission, which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings contained herein, except with respect to paragraphs II. A and B, below, which are admitted, Ruyle consents to the issuance of this Order Instituting Public Proceedings, Making Findings and Imposing Remedial Sanctions as to Jerry Lynn Ruyle, and to the entry of the findings and the imposition of the remedial sanctions set forth below.

II.

On the basis of this Order and the Offer of Settlement submitted by Ruyle, the Commission finds that:

A. Ruyle is not registered as a broker or dealer with the Commission nor was he registered as a broker or dealer during the years 1999 and 2000.

B. Ruyle was permanently enjoined on January 2, 2002, from violations of 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 Exchange Act and Rule 10b-5 promulgated thereunder, by the United States District Court for the Northern District of Texas [SEC v. Kurtis Keith Lowe, et al., 4:00-CV-0467-A]. Ruyle consented to the entry of the permanent injunction without admitting or denying any violation of the federal securities laws, as alleged in the Commission's Complaint.

C. The Commission's Complaint in SEC v. Kurtis Keith Lowe, et al., alleged that in 1999 and 2000 Ruyle acted as a sales agent for Chemical Trust and Alliance Trust and that he offered for sale and sold, using the means and instrumentalities of interstate commerce, unregistered securities offered by Chemical Trust and Alliance Trust. The Commission's Complaint further alleged that Ruyle failed to conduct any meaningful due diligence into the claims made by Chemical Trust and its ability to pay the investment returns Ruyle promised his purchasers. The Commission's Complaint further alleged that Ruyle made untrue statements or made statements with reckless disregard as to the accuracy of the statements in connection with the offer and sale of the Chemical Trust securities. The Commission's Complaint further alleged that the Chemical Trust and Alliance Trust securities were part of a nationwide ponzi-scheme operated by Chemical Trust and that the claims and representations made by Chemical Trust, and communicated by Ruyle in connection with the offer and sale of the securities, were fraudulent and untrue. The Commission's Complaint further alleged that Ruyle used the means and instrumentalities of interstate commerce to offer and sell securities without being registered with the Commission as a broker or dealer.

III.

In view of the foregoing, the Commission deems it appropriate and in the public interest to accept Ruyle's Offer of Settlement.

Accordingly, IT IS ORDERED that Ruyle be, and hereby is barred from association with any broker or dealer.

By the Commission.

Jonathan G. Katz
Secretary

SERVICE LIST

Rule 141 of the Commission's Rules of Practice provides that the Secretary, or another duly authorized officer of the Commission, shall serve a copy of the Order Instituting Public Proceedings, Making Findings and Imposing Remedial Sanctions as to Jerry Lynn Ruyle ("Order") on each person named in the Order and their legal agent.

The attached Order has been sent to the following parties and other persons entitled to notice:

Honorable Brenda P. Murray
Chief Administrative Law Judge
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549-1106

Steven A. Yadegari, Esq.
Division of Enforcement
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549-0809

Harold F. Degenhardt, Esq.
District Administrator
Securities and Exchange Commission
Fort Worth District Office
801 Cherry Street, 19th Floor
Fort Worth, TX 76102

Joel Held, Esq.
Baker & McKenzie, LLP
2300 Tramell Crow Center
2001 Ross Avenue
Dallas Texas 75201

Mr. Jerry Lynn Ruyle
17203 Pennie Lane
Flint, TX 75762

 

http://www.sec.gov/litigation/admin/34-45296.htm


Modified: 01/17/2002