Litigation Release No. 17146 / September 20, 2001
S.E.C. v. Edward Snyder and Robert E. Carroll, Civil Action No. 98-CV-1215 (N.D. Tex.)
On July 13, 2001, the District Court for the Northern District of Texas entered an Order to Consolidate Funds, Order Approving Proposed Plan of Distribution and for Distribution of Funds to Investors and Motion for Withdrawal of Order to Show Cause after collecting a payment of $25,000 from Robert E. Carroll.
The payment was made pursuant to an Order dated May 12, 2000, that directed Carroll to pay $25,000 as disgorgement and for disbursement to the investors as initially ordered by the Court on February 5, 1999. This $25,000 payment was in addition to the$372,605.76 already paid by Carroll as disgorgement pursuant to an Order of Permanent Injunction and Other Relief entered on February 5, 1999. Upon receipt of two payments totaling $25,000, the Court granted the Commission's Motion to consolidate the funds for disbursement to the investors on a pro rata basis and withdraw the Order to Show Cause against Carroll.