U.S. Securities and Exchange Commission
Litigation Release No. 18178 / June 6, 2003
Securities and Exchange Commission v. Alan Brian Bond, Robert I. Spruill and Albriond Capital Management, LLC, Civil Action No. 99-12092 (S.D.N.Y.)
United States V. Robert I. Spruill, Crim. Case No. 99-CR 1235 (S.D.N.Y.)
Former Registered Representative Robert I. Spruill Sentenced
On May 6, 2003, United States District Judge Naomi Reice Buchwald sentenced former registered representative Robert I. Spruill (Spruill) to a prison term of four months, to be followed by one year of supervised release. Spruill was sentenced for his participation in a commission kickback scheme perpetrated by Alan Brian Bond, the then principal of a registered investment adviser. On May 31, 2000, Spruill pled guilty to one count of conspiracy and one count of commercial bribery. The Securities and Exchange Commission (Commission) filed a complaint against Spruill on December 16, 1999, alleging that he participated in the commission kickback scheme with Bond. The Commission's complaint alleged that Bond received over $6.9 million in commission kickbacks from three brokerage firms with which Spruill was associated. The Commission's actions against Spruill and Bond are continuing.
For additional information, see Litigation Release Nos. 18018 (Mar. 6, 2003), 17560 (June 12, 2002), 17266 (Dec. 12, 2001), 17099 (Aug. 10, 2001), and 16394 (Dec. 16, 1999).