Securities Exchange Act of 1934
Release No. 47967 / June 3, 2003
Administrative Proceeding
File No. 3-11143
In the Matter of MONTY R. MYLER Respondent. |
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ORDER INSTITUTING PUBLIC ADMINISTRATIVE PROCEEDINGS PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS |
I
The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Respondent Monty R. Myler ("Myler" or "Respondent").
II
In anticipation of the institution of these proceedings, Respondent Myler has submitted an Offer of Settlement ("Offer") 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 to which the Commission is a party, and without admitting or denying the findings contained herein, except as to jurisdiction of the Commission over Respondent Myler and over the subject matter of these proceedings, and except as to paragraphs III.A., and B., below, which are admitted. Respondent Myler, by his Offer, consents to the entry of the findings and remedial sanctions set forth below.
Accordingly, IT IS ORDERED that proceedings pursuant to Section 15(b) of the Exchange Act be, and hereby are, instituted.
III
On the basis of this Order Instituting Public Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions ("Order"), and the Offer submitted by Respondent Myler, the Commission finds that:
A. At all relevant times, Myler was a manager and a registered representative of a registered broker-dealer.
B. On March 21, 2001, Myler pled guilty to count one of an indictment charging that he participated in a conspiracy to commit securities fraud, mail fraud and wire fraud. United States v. Monty R. Myler, Case No. 00-8164-CR-Ryskamp (S.D. Fla. 2000).
C. The criminal indictment alleged that from October 1998 through June 1999, Myler conspired to commit securities fraud, mail fraud and wire fraud by participating in a fraudulent scheme to manipulate the market in the securities of Lifekeepers International, Inc. ("Lifekeepers") by making undisclosed payments to registered representatives who recommended and sold Lifekeepers' stock to their clients in exchange for the bribes.
D. On February 25, 2002, Myler was sentenced to three years of probation and ordered to pay $190,186.31 in restitution and perform 100 hours of community service.
IV
In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions specified in the Respondent's Offer.
ACCORDINGLY, IT IS ORDERED that Respondent Myler is hereby barred from association with any broker or dealer.
By the Commission:
Jonathan G. Katz
Secretary