UNITED STATES OF AMERICA
In the Matter of
FELIX ANTHONY BERRY,
|ORDER INSTITUTING PUBLIC ADMINISTRATIVE PROCEEDINGS PURSUANT TO SECTION 203(f) OF THE INVESTMENT ADVISERS ACT OF 1940, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS|
The Securities and Exchange Commission (Commission) deems it appropriate in the public interest that public administrative proceedings be instituted against Felix Anthony Berry (Berry) pursuant to Section 203(f) of the Investment Advisers Act of 1940 (Advisers Act).
In anticipation of the institution of these proceedings against him, Berry has submitted an Offer of Settlement (Offer) which the Commission has determined to accept. Solely for the purpose of this proceeding and any other proceeding brought by or on behalf of the Commission or to which the Commission is a party, Berry, by his Offer, without admitting or denying the Commission's findings, except those facts set forth in Paragraphs III.A. through III.B. and the Commission's jurisdiction over him and over the matters set forth herein, which he admits, consents to the entry of this Order Instituting Public Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (Order).
Accordingly, IT IS HEREBY ORDERED that proceedings pursuant to Section 203(f) of the Advisers Act be, and hereby are, instituted.
On the basis of this Order and the Offer submitted by Berry, the Commission finds that:
A. Berry, age 38, was the founder, president and sole director of Berry's Financial Corporation, an Illinois corporation which was located in Chicago, Illinois. Berry was an investment adviser and had at least 200 investment advisory clients, although he was not registered with the Commission or any state as an investment adviser. Berry is a resident of Santa Ana, California, but he resided in Chicago, Illinois when he conducted the activities for which he was convicted.
B. On October 13, 2000, in U.S. v. Berry, No. 00-CR-444 in the United States District Court for the Northern District of Illinois, Berry pled guilty to one count of violating 18 U.S.C. § 1341 (mail fraud) and was sentenced to 18 months in prison and ordered to make restitution of $856,000 to investors. The criminal conviction was based upon Berry's misappropriation of approximately $856,000 in client funds that had been entrusted to him for investments.
In view of the foregoing, it is appropriate in the public interest to accept Berry's Offer and to impose the sanctions specified in the Offer.
Accordingly, IT IS ORDERED that Felix Anthony Berry be, and hereby is, barred from association with any investment adviser.
By the Commission.
Jonathan G. Katz
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