SEC Charges Recidivist for Acting as Unregistered Broker and Violating SEC Bars

ADMINISTRATIVE PROCEEDING
File No. 3-20177

December 18, 2020

The Securities and Exchange Commission today charged Florida resident John G. Wright, Jr. for violating two previous SEC orders and for acting as an unregistered broker in selling more than $2 million of penny stock in a private placement.

According to the SEC's order, Wright helped a private issuer sell more than $2 million in stock to thirty-five investors between 2015 and 2017 without registering as a broker or qualifying for an exemption from the broker registration requirements. The order finds that Wright also violated two SEC orders he previously agreed to that barred him from associating with any brokers or dealers and participating in any offering of penny stock.

The order charges Wright with violating the broker registration and regulation provisions of Sections 15(a)(1) and 15(b)(6)(B)(i) of the Securities and Exchange Act of 1934. Without admitting or denying the SEC's findings, Wright agreed to cease and desist from violating these provisions and to pay a $125,000 penalty.

The SEC's investigation was conducted by James Blenko, Jonathan Jacobs, Kia Grant-Smith, and Shipra Wells and supervised by Rami Sibay.