U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 17447 / March 28, 2002
Securities and Exchange Commission v. Daniel L. Zessinger, Civil Action No. 4:01-CV-01222DJS (E.D.M. March 14, 2002)
The Securities and Exchange Commission announced today that the Honorable Rodney W. Sippel, United States District Judge for the Eastern District of Missouri, granted the Commission's motion for summary judgment and entered a judgment against defendant Daniel L. Zessinger ("Zessinger") to compel his payment of $40,601.41, plus a civil penalty of $100,000.
On October 8, 1996, the Commission's order issued in the administrative proceeding In the Matter of Daniel L. Zessinger, File No. 3-8838, found that Zessinger violated the antifraud provisions of the federal securities laws by churning the accounts of his customers, and engaging in misconduct regarding the account of an elderly widow. Zessinger was ordered to pay disgorgement of $19,340 and prejudgment interest of $7,652, with continued interest accrual. He was also ordered to pay a civil penalty of $100,000. Zessinger has not paid any of the required payments.
On August 2, 2001, the Commission filed a Complaint which sought to have an order issued pursuant to Section 21(e) of the Securities Exchange Act of 1934, requiring Zessinger to comply with the Commission's order by paying the ordered disgorgement, prejudgment interest, and civil penalty.
Zessinger was a registered representative of Prudential Securities, Inc.
See also: L. R. No. 17096 (March 14, 2002)