In the Matter of Daniel J. Bean

Admin. Proc. File No. 3-17390

On August 16, 2016, the Commission instituted and simultaneously settled proceedings against Daniel J. Bean (“Respondent”) arising from his participation as an unregistered broker-dealer in the offer and sale of securities by interstate commerce (the “Order”). In the Order, the Commission found the Respondent acted as an unregistered sales agent of JCS Enterprises, Inc. (“JCS”) and T.B.T.I., Inc. (“TBTI”) by having offered and sold JCS’s and TBTI’s investment contracts in JCS’ Virtual Concierge program, and the Respondent earned transaction-based compensation from each sale. From approximately August 2012 through late 2013, the Respondent received $148,500.00 in transaction-based compensation from JCS and TBTI in exchange for soliciting and securing investors through the use of telephone and/or email. The Commission found that the Respondent willfully violated Section 15(a)(1) of the Securities Exchange Act of 1934. The Commission ordered the Respondent to pay a total of $167,904.65, consisting of disgorgement of $148,500.00, prejudgment interest of $11,904.65, and a civil money penalty of $7,500.00. The Commission also created a Fair Fund pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended, for all funds received pursuant to the Order.

The Commission further ordered that all funds paid by the Respondent pursuant to the Order be transferred to the Receiver, James D. Sallah, appointed in the related Commission action, SEC v. JCS Enterprises, Inc., et al., Case No. 14-80468-CV-DMM (S.D. Fla.), for distribution to injured investors in accordance with a distribution plan to be approved by the court in that litigation. See the Commission’s order: Release No. 34-78581.

For further information regarding these funds, please contact James D. Sallah, Esq., the Receiver for JCS and T.B.T.I. in the matter of JCS Enterprises, Inc., et al., Case No. 14-80468-CV-DMM (S.D. Fla.).

Receiver:

James D. Sallah, Esq.
One Boca Place
Sallah Astarita & Cox LLC
2255 Glades Road, Suite 300E
Boca Raton, FL 33431
Telephone: (561) 989-9080