Litigation Release No. 23707 / December 21, 2016

Securities and Exchange Commission v. John L. Threshie, Jr., No. 3:16-cv-02103 (D. Conn. filed Dec. 21, 2016)

SEC Charges CEO of Connecticut-Based Company for Offering and Selling Unregistered Securities

The Securities and Exchange Commission today announced that Tirex Corporation's CEO has agreed to pay over $770,000 to resolve charges that he violated the registration provisions of the federal securities laws through the offer and sale of Tirex's securities.

The SEC's complaint, filed in federal court in Connecticut on December 21, 2016, alleges that, beginning in 2006, John L. Threshie, Jr., of Wilton, Connecticut, raised almost $582,000 from at least 94 investors by offering and selling securities in Tirex, a company that markets a purported tire recycling system. According to the complaint, Threshie regularly emailed existing investors describing Tirex's marketing activity and, in some instances, encouraging the investors to invest more money and asking them to share his invitation to purchase stock with anyone who might be interested in investing. No registration statement was on file or in effect with the SEC with respect to this offering of securities, as required by the applicable securities laws.

The SEC suspended trading in Tirex securities on November 12, 2015. Prior to the trading suspension, Tirex securities were quoted on OTC Link operated by OTC Markets Group Inc.

The SEC's complaint charges Threshie with violating Sections 5(a) and 5(c) of the Securities Act of 1933. Threshie consented to the entry of a final judgment imposing permanent injunctions and a penny stock bar and requiring him to pay disgorgement and prejudgment interest of $722,281.60 and a civil penalty of $50,000. The judgment also prohibits Threshie from participating in any sale or offer to sell securities in an unregistered offering other than for his own account and from soliciting or accepting funds from any person to whom he provides information about Tirex without providing a copy of the SEC's complaint, the judgment entered against him, and the SEC's November 12, 2015 Order of Suspension of Trading in Tirex stock. The settlement is subject to approval of the court.

SEC Complaint