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U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23193 / February 9, 2015

Securities and Exchange Commission v. Bradley A. Holcom, Civil Action No. 12-cv-1623 (S.D. Cal.)

Court Enters Final Judgment Against Bradley Holcom for Perpetrating Offering Fraud

The Securities and Exchange Commission announced that on February 6, 2015, the Honorable Marilyn L. Huff of the United States District Court for the Southern District of California entered a final judgment against Defendant Bradley A. Holcom, formerly of Canby, Oregon, permanently enjoining Holcom from violations of the anti-fraud, securities registration, and broker-dealer registration provisions of the federal securities laws. In addition, at the Commission's request, the Court dismissed the Commission's claims against Holcom for disgorgement, prejudgment interest, and civil penalties in light of Holcom's significant sanctions in a parallel criminal case, in which Holcom pled guilty to wire fraud, was sentenced to 121 months in prison, and was ordered to pay restitution of more than $26 million to the victims of the scheme.

The Court had previously granted the Commission's motion for summary judgment, finding Holcom liable for all of the violations alleged against him in the Commission's complaint. The Court further found that a permanent injunction against Holcom was appropriate in light of Holcom's recurrent, intentional violations of the securities laws.

The Commission commenced its action against Holcom on June 29, 2012, charging Holcom with violations of the anti-fraud and other provisions of the federal securities laws in connection with a fraudulent scheme that sold $42 million of promissory notes to more than 150 investors located across the United States, many of whom are senior citizens.

For more information on earlier actions in this case, see Litigation Release No. 22496 (Sept. 27, 2012).

 

http://www.sec.gov/litigation/litreleases/2015/lr23193.htm


Modified: 02/09/2015