Investment Advisers Act of 1940
Release No. 1952 / July 20, 2001
Administrative Proceeding
File No. 3-10233
In the Matter of
Respondents. |
: |
ORDER APPROVING PLAN OF DISGORGEMENT DISTRIBUTION, APPOINTING ADMINISTRATOR AND DIRECTING DISTRIBUTION OF DISGORGEMENT FUND |
On January 24, 2001, the Commission published notice of the Division of Enforcement's ("Division") proposed Plan for the Distribution of Disgorged Funds (the "Plan") in this proceeding. The Plan proposed that $43,000 disgorged by Respondent Owen-Joseph Asset Management Corp. ("OJAM") pursuant to the Commission's Order issued on June 15, 2000 be distributed pro rata among the clients whom the staff determined were financially harmed by Respondents' conduct.
The Division has submitted its proposed Plan in which Amy J. Norwood, Assistant Regional Director, Central Regional Office, is designated as Administrator of the Plan. The Division has requested that the Commission approve the Plan, appoint Amy J. Norwood as Administrator of the Plan, and order the distribution of the disgorged funds pursuant to the Plan. The Commission received no comments in response to the publication of the Division's proposed Plan.
IT IS ORDERED that the Plan is approved; and
IT IS FURTHER ORDERED that Amy J. Norwood is appointed as Administrator of the Plan in accordance with the terms of the Plan; and
IT IS FURTHER ORDERED that the Office of the Comptroller shall make the following distribution amounts no later than the earlier of (i) 30 days after the expiration of the time for appealing this Order, or (ii) in the event this Order is appealed, 30 days after the final resolution of the appeal:
| Payee: | Payment: | |
|---|---|---|
| Barry Goralnik | $496.83 | |
| Barry Goralnik IRA | $21.60 | |
| Sandra Goralnik | $43.20 | |
| Francis Alpert | $518.43 | |
| Sanford Alpert | $172.81 | |
| Ben Friedman | $259.22 | |
| Marvin Goldfogel | $226.13 | |
| George Sullivan | $116.17 | |
| George Sullivan IRA | $21.60 | |
| Michael Seavall | $172.81 | |
| Betty Freedman | $424.10 | |
| Paul Samman | $639.94 | |
| Mel Cantor Employees | $21.60 | |
| Donald & Gwen Caussey | $43.20 | |
| Barbara Glaser | $21.60 | |
| Patricia Sweeney Trust | $21.60 | |
| Saturn Electric | $151.21 | |
| Centennial Beverage | $3,025.26 | |
| Ronald & Joanne Dudek | $106.66 | |
| Dennis Brooks, Jr. | $43.20 | |
| Edward J. Dennis | $43.20 | |
| Bernard Sharp | $140.41 | |
| Bernard Sharp IRA | $1,277.98 | |
| Morris & Mattie Day | $572.43 | |
| Pete & Gayle Wilson | $50.76 | |
| Richard Kintz | $43.20 | |
| Hensley Battery & Elec. | $21.60 | |
| Cosby & James Pension | $43.20 | |
| Cosby & James Profit | $357.77 | |
| Jonathan Freedman | $97.21 | |
| Jonathan Freedman IRA | $2,095.32 | |
| Adele Krieger | $3,298.51 | |
| Adele Krieger IRA | $2,170.38 | |
| Fairfield & Woods P/S | $9,987.79 | |
| Irwin Cohen | $129.61 | |
| Irwin Cohen Employee P/S | $789.80 | |
| The Lynch Company | $2,926.97 | |
| Brobeck Partners Retirement | $11,189.45 | |
| Don Boring | $655.60 | |
| Thomas Jacobs | $432.03 | |
| Louis J. Swiatek IRA | $129.61 | |
By the Commission.
_____________________________
Jonathan G. Katz
Secretary