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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. 50986 / January 6, 2005

Admin. Proc. File No. 3-11790


In the Matter of

Thomas T. Prousalis, Jr.,

Respondent.



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ORDER OF SUSPENSION PURSUANT TO RULE 102(e)(2) OF THE COMMISSION'S RULES OF PRACTICE

I.

The Securities and Exchange Commission deems it appropriate to issue an order of forthwith suspension of Thomas T. Prousalis, Jr. ("Prousalis") pursuant to Rule 102(e)(2) of the Commission's Rules of Practice [17 C.F.R. § 201.102(2)].1

II.

The Commission finds that:

A. Prousalis was licensed to practice law in the District of Columbia in 1978.

B. On November 1, 2004, the United States District Court for the Southern District of New York entered a final judgment convicting Prousalis of: (1) securities fraud in violation of Title 15, United States Code, Sections 78j(b) and 78ff, and Title 17, Code of Federal Regulations, Section 240.10b-5; (2) conspiracy to commit securities, wire and mail fraud in violation of Title 18, United States Code, Sections 371, 1341, 1343 and 1346, Title 15, United States Code, Sections 78j(b) and 78ff, and Title 17, Code of Federal Regulations, Section 240.10b-5; and (3) failure to disclose the interest of counsel in violation of Title 15, United States Code, Section 77x, Title 17, Code of Federal Regulations, Section 228.509 and Title 18, United States Code, Section 2. The final judgment sentenced Prousalis to 57 months imprisonment to begin on January 7, 2005. United States v. Thomas T. Prousalis, Jr.,, 03 Cr. 1509 (DLC) (S.D.N.Y.).

III.

In view of the foregoing, the Commission finds that Prousalis has been convicted of a felony within the meaning of Rule 102(e)(2) of the Commission's Rules of Practice. Accordingly, IT IS ORDERED, that Prousalis is forthwith suspended from appearing or practicing before the Commission as an attorney.

By the Commission.

Jonathan G. Katz
Secretary


Endnotes


http://www.sec.gov/litigation/admin/34-50986.htm


Modified: 01/06/2005