UNITED STATES OF AMERICA
In the Matter of
JOHN TRIPP SINES, III
ORDER INSTITUTING PROCEEDINGS
The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that a public administrative proceeding be, and hereby is, instituted pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 ("Exchange Act") against John Tripp Sines, III ("Respondent").
Respondent has submitted an Offer of Settlement ("Offer") that the Commission has determined to accept. On the basis of the foregoing, Respondent hereby:
On the basis of this Order and Respondent's Offer, the Commission finds that:
John Tripp Sines, III, 29, was a registered representative at A.S. Goldmen & Co., Inc. ("Goldmen"), a broker dealer registered with the Commission, from March 1997 to June 1998. From June 1998 to August 1998, Sines was registered representative at Josephthal & Co., Inc., a broker-dealer registered with the Commission. Sines is a resident of Florida.
B. State Criminal Conviction
On June 7, 1999, Sines was criminally convicted of the crime of scheme to defraud in connection with the sale of securities upon the entry of his plea of guilty by the Supreme Court for the State of New York. Sines was sentenced to probation. According to the plea allocution upon which his conviction was based, Sines, acting as a registered representative of Goldmen, engaged in fraud by: (1) making misrepresentations and false statements regarding the nature and value of certain securities that he sold to investors; (2) making misrepresentations and failing to disclose material facts concerning the business, business plans, profitability, and financial stability of certain securities that he sold to investors; (3) misrepresenting and failing to disclose material facts concerning the true market, liquidity, safety and suitability of certain securities that he sold to investors.
Based on the foregoing, the Commission deems it appropriate and in the public interest to accept Respondent's Offer and to impose the sanctions that are set forth in the Offer.
ACCORDINGLY, IT IS ORDERED that, pursuant to Section 15(b)(6) of the Exchange Act, Respondent be, and hereby is, barred from association with any broker or dealer.
By the Commission.
Jonathan G. Katz
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