Keith MacDonald Summers
Admin Proc. File No. 3-16014

On August 13, 2014, the Commission instituted and simultaneously settled proceedings against Keith MacDonald Summers (“Summers”). The Commission found that Summers breached his fiduciary duty and defrauded Tricoastal Capital Partners, LLC (“TCP Fund”), his advisory fund client, and its investors between July 2009 and July 2013. The Commission ordered that Summers pay disgorgement of $4,117,658.15 to the Commission. See the Commission’s order, Release No. 33-9630.

On September 11, 2014, the Commission issued an order appointing Damasco and Associates LLP as the Tax Administrator. See the Commission’s order, Release No. 34-73073.

On March 10, 2015, the Commission issued a notice of the proposed plan of distribution and opportunity for comment and simultaneously provided a link to the proposed plan of distribution. The notice provided persons 30 days to submit their comments on the proposed plan of distribution. See the Commission’s notice, Release No. 34-74461, and the proposed plan of distribution, Release No. 34-74461-pdp.

On April 27, 2015, the Commission issued an order approving the plan of distribution. See the Commission’s order, Release No. 34-74812 and the plan of distribution, Release No. 34-74812-dp.

On August 12, 2015, the Commission issued an order directing disbursement of $1,394,190.92 from the Disgorgement Fund to investors in accordance with the approved Plan. See the Commission’s order: Release No. 34-75679.

For more information, please contact the Fund Administrator:

Adriene Mixon
Office of Distributions
Telephone Number: 202-551-4463