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U.S. Securities and Exchange Commission

Before the

Release No. 45002 / October 30, 2001

File No. 3-10628

In the Matter of

Mark Steven Snader,
individually and d/b/a
e-highyields.com and
The High Yield Club





The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act"), against Mark Steven Snader, individually and d/b/a e-highyields.com and the High Yield Club ("Snader").

In anticipation of the institution of these proceedings, Snader has submitted an Offer of Settlement ("Offer") to the Commission, which the Commission has determined to accept.

Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or in which the Commission is a party, prior to a hearing pursuant to the Commission's Rules of Practice, 17 C.F.R. § 201.100 et seq., and without admitting or denying the findings contained herein, except those contained in paragraph II.A., and the jurisdiction of the Commission over him and the subject matter of these proceedings, Snader consents to the issuance of this Order Instituting Proceedings, Making Findings and Imposing Remedial Sanctions, and to the entry of the findings and remedial sanctions set forth below.


On the basis of this Order and the Offer submitted by Snader, the Commission finds that:

A. On October 16, 2001, a Final Judgment was entered by consent against Snader in the United States District Court for the Northern District of Texas (Dallas Division). Snader was permanently enjoined from violations of Sections 17(a) of the Securities Act of 1933 ("Securities Act"), Sections 15(a) and 10(b) of the Exchange Act and Rule 10b-5 thereunder. SEC v. Mark Steven Snader, Case No. 3:01-CV-2062-X, the United States District Court for the Northern District of Texas, Dallas Division.

B. From approximately October 2000 through July 2001, Snader was acting as an unregistered broker-dealer.

C. The Commission's Complaint ("Complaint") against Snader alleged that starting in October 2000, and continuing through July 2001, Snader, a former truck-driver and welder, recommended that investors purchase various, purportedly high yield, securities. Snader earned substantial commissions from the purchase of these securities. The Complaint further alleged that in the course of marketing these securities, Snader acted as an unregistered broker-dealer.

D. The Commission's complaint alleged that Snader used his website, e-highyields.com, to promote certain "high yield" investments. Snader, through various misrepresentations and omissions, ultimately induced approximately 400 persons from throughout the world to become members of e-highyields. Snader typically earned commissions of 10 percent (10%) from issuers when an e-highyields member purchased one of his recommendations.

E. Among other things, the complaint alleged that Snader falsely claimed that he only recommended investments that were "credible and viable," had a "successful track record" and scored well on Snader's investment rating system. He further claimed he had assembled a team with 25 years of experience, and that "80% of the programs we recommend succeed." Further, Snader maintained that e-highyield's network of consultants, consisting of at least ten people, communicated with him on a daily basis, and that these consultants received economic warning signals long before the rest of the public, that would be provided to members for their financial benefit. Snader later also claimed to investors that he had been employed as a purchasing manager for one of the "top 50 corporations in the world" and was responsible for managing an $11,000,000 budget.

F. However, the Commission's complaint alleged that, in reality, Snader was the sole operator, owner and employee of e-highyields and The High Yield Club and had no "team with 25 years experience" advising or assisting him. Further, the complaint alleged that Snader himself had virtually no investment experience or acumen, and that his investment experience was limited to less than two years of making his own "high yield" investments. Further, Snader's education and work experience was also unrelated to investments-he had a high school education and had been employed as a truck-driver and as a welding shop foreman and manager. Moreover, the complaint alleged that Snader failed to disclose that he was convicted of a felony in 1997 and declared bankruptcy in 2000.

G. Snader' second venture, "The High Yield Club," was a group comprised solely of e-highyield members. While the High Yield Club was similar in many respects to e-highyields.com, High Yield Club members sent their investment monies directly to Snader, rather than to an issuer. Snader purportedly invested these funds in accordance with a member's directive, after deducting a 10 percent (10%) commission for himself. Snader also purportedly distributed the proceeds from these investments, after deducting a 5 percent (5%) commission prior to paying his investors.


In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions that are set forth in the Offer submitted by Snader.

Accordingly, IT IS ORDERED that Snader be, and hereby is, barred from association with any broker or dealer.

By the Commission.

Jonathan G. Katz


Modified: 10/30/2001