Litigation Release No. 22488 / September 21, 2012
Securities and Exchange Commission v. Edward Tackaberry, 6:12-Civ-06512 (W.D.N.Y.)
SEC CHARGES EDWARD TACKABERRY FOR ACTING AS AN UNREGISTERED BROKER-DEALER IN VIOLATION OF LAW AND PRIOR SEC ORDER
On September 21, 2012, the Securities and Exchange Commission charged Edward Tackaberry (Tackaberry) with acting as, or associating with, an unregistered broker-dealer, in violation of Section 15(a) of the Securities Exchange Act of 1934 (Exchange Act) and despite a September 27, 2007 order issued by the SEC barring him from associating with any broker or dealer.
The SEC alleges that, from 2007 through 2009, Tackaberry acted as an unregistered broker-dealer, and/or associated with an individual acting as an unregistered broker-dealer, in connection with the solicitation of investors in several New York Limited Liability Companies (LLCs), operating out of offices located in Pittsford, New York. Tackaberry’s role in the securities offering consisted of discussing investment transactions with prospective investors, negotiating the terms of the investments on behalf of the LLCs, and, if an agreement was reached, documenting those transactions.
The SEC further alleges that, at the time he solicited investments in the LLCs’ securities, Tackaberry was subject to a September 27, 2007 order issued by the SEC barring him from associating with any broker or dealer. That bar was imposed after a federal district court found that Tackaberry had committed securities fraud in connection with a separate scheme and permanently enjoined him from future violations of Section 17(a) of the Securities Act of 1933, and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. (SEC v. Pittsford Capital Income Partners, L.L.C., 06 Civ. 6353 T(P) (W.D.N.Y. Aug. 30, 2007)).
According to the SEC’s complaint, through this conduct, Tackaberry violated Sections 15(a) and 15(b)(6)(B)(i) of the Exchange Act. Tackaberry has consented to the entry of a final judgment in the SEC’s case against him, which would enjoin him from further violations of these provisions.
The SEC’s investigation was conducted by Aaron P. Arnzen and Joseph P. Ceglio of the New York Regional Office.