SEC v. Zenger
Case No. 14-cv-00065-BSJ (D. Utah)

On January 31, 2014, the SEC filed a complaint against Michael P. Zenger (“Defendant”).  The complaint alleged that, from June 2013 through the filing of the complaint, the Defendant solicited at least $200,000.00 from two investors for the purpose of raising capital to trade futures contracts, commodities, and government securities, of which he misappropriated approximately $100,000.00 of those funds for his own personal expenses. See Complaint.

The Defendant was ordered to pay a total of $124,362.92 in disgorgement and prejudgment interest. The SEC was ordered to hold these funds (the “Fund”), pending further order of the Court. The Defendant was also ordered to pay a $60,000.00 civil penalty, which was ordered to be sent to the United States Treasury. See Defendant’s Final Judgment.

The Defendant has paid a total of $124,362.92 into the Fund for the distribution to the two harmed investors.

For more information, please contact the SEC:

Office of Distributions