In the Matter of MMR Investment Bankers, LLC, et al. Admin. Proc. File No. 3-14163
Oct. 14, 2022
On June 8, 2011, the Commission issued five separate settled orders (the “Orders”) that were instituted on December 14, 2010 against MMR Investment Bankers, LLC (d/b/a MMR, Inc.), a registered broker-dealer, and its president and majority owner, William G. Martin, Jr.; its vice-president and assistant compliance officer, Eugene R. Rankin; and two registered representative, John A. Hubert and Aaron D. Fimreite (collectively, the “Respondents”). In the Orders, the Commission found that, from 2005 through 2008, the Respondents violated federal securities laws by recommending, offering, and selling eleven best-efforts, no minimum private placement debenture offerings for eight small start-up companies: Dynamic Distribution, Inc.; El Pegasu Developmental, Inc.; Equity Capital Source, Inc.; Havoc Distribution, Inc.; MLP Associates, LLC; Partners in Care; Southfield Energy Corp.; and Vending Ventures, Inc.. The Commission ordered, and the Respondents have paid, a total of $138,596.46 in disgorgement, prejudgment interest, and civil money penalties to the Commission. The Commission also created Fair Funds, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended, so the penalties, along with the disgorgement and prejudgment interest, collected could be distributed to those harmed by the Respondents’ conduct described in the Order (the “Fair Fund”). See the Commission’s Orders: Release No. 33-9217, 33-9218, 33-9219, 33-9220, and 33-9221.
On May 10, 2019, the Commission issued an order appointing Miller Kaplan Arase LLP as the Tax Administrator of the Fair Fund. See the Commission’s Order: Release No. 34-85832.
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