UNITED STATES SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 45058 / November 15, 2001
File No. 3-10640
PUBLIC ADMINISTRATIVE PROCEEDINGS INSTITUTED AGAINST BRUCE E. STRAUGHN
On November 15, 2001, the Commission entered an Order Instituting Public Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Order) against Bruce E. Straughn (Straughn) based on his conviction for misprision of a felony. United States v. Bruce E. Straughn, Case No. 9:00CR08112-001-HURLEY (S.D. Fla. 1998).
The Division of Enforcement alleged that Straughn pled guilty to a one-count information charging him with misprision of a felony. The information alleged that Straughn concealed knowledge of the commission of a felony when questioned by an investigator concerning a fraudulent securities manipulation scheme conducted by a stock promoter. Straughn was sentenced to six months in prison and fined $5,000 and ordered to complete one year of probation.
A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide Straughn an opportunity to dispute these allegations, and to determine what sanctions, if any, are appropriate and in the public interest.