UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
Investment Advisers Act of 1940
Release No. 2297 / September 15, 2004
File No. 3-11664
In the Matter of Adam G. Kruger.
The United States Securities and Exchange Commission (Commission) announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act against Adam G. Kruger (Respondent or Kruger). The Division of Enforcement alleges that a permanent injunction was entered on April 13 in the case of Securities and Exchange Commission v. Adam G. Kruger, et al., No. 03 C 8288 (N.D. Ill.) against the Respondent. The Court enjoined the Respondent from violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Section 206(1) and 206(2) of the Investment Advisers Act. The Respondent consented to the entry of the order of permanent injunction and admitted the allegations of the Complaint.
A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide Respondent an opportunity to dispute these allegations, and to determine what sanctions, if any, are appropriate and in the public interest.
The order requires the Administrative Law Judge to issue an initial decision no later than 210 days from the date of service of this Order, pursuant to Rule 360(a)(2) of the Commission's Rules of Practice.
See also the Order in this matter