SEC v Tyson D. Williams and Stanley D. Parrish

Civil Action No. 2:14-cv-00510-DAK (D. Ut.)

On July 10. 2014, the Securities and Exchange Commission (the “SEC”) filed the subject civil action against Tyson D. Williams (“Williams”) and Stanley D. Parrish (“Parrish”) (collectively, the “Defendants”). In its complaint, the SEC alleged that, from January 2008 through July 2012, the Defendants, through their company, ST Ventures, LLC (“STV”) engaged in a scheme whereby they offered and sold investment contracts and acted as unregistered brokers. The SEC alleged that the Defendants misrepresented to investors, among other things, that STV would purchase collateralized mortgage obligations (“CMOs”) or interests in CMOs, and then leverage the CMOs to produce a return for investors. The SEC alleged that the Defendants raised over $7 million from approximately 50 investors, misappropriating over $3.5 million of those funds and using approximately $1.5 million to pay earlier investors. See Complaint.

The litigation is now complete. The Defendants each consented to judgments imposing injunctive relief and deferring a determination of monetary relief until further motion by the SEC. See consent judgments as to Defendant Tyson D. Williams and Defendant Stanley D. Parrish, Upon motion by the Commission, the Court issued a decision and order, ordering the Defendants, jointly and severally, to pay $3,111,484.89 in disgorgement, $1,067,778.29 in prejudgment interest, and $130,000.00 in civil penalties. See Court decision and memorandum and Clerk’s judgment.

On February 14, 2025, the Court entered an Order Appointing a Tax Administrator and Authorizing the SEC to Approve Payment of Distribution Fund, Tax Obligations, and the Fees and Expenses of the Tax Administrator Without Further Court Order. See the Order.