2024-05-01 sec-litreleases litigation_release 63 KB 1,626 chars

SEC v. Daniel E. Levin, No. LR-25991, Northern District of Texas (May 1, 2024) — Press Release

raw: Daniel E. Levin

Daniel E. Levin, No. LR-25991 (May 1, 2024)

Caption: SEC v. Daniel E. Levin

summary

Daniel E. Levin was ordered to pay over $435,000 in penalties and disgorgement for acting as an unregistered broker while soliciting $2.6 million for the CRP Fund.

paragraph

Daniel E. Levin violated Section 15(a) of the Securities Exchange Act of 1934 by soliciting approximately $2.6 million for the CRP Fund without SEC registration. The court ordered Levin to pay $320,000 in disgorgement and interest, alongside $115,231 in civil penalties. Levin consented to a bifurcated settlement that includes a permanent injunction against future violations.

narrative

Between 2017 and 2018, Daniel E. Levin solicited approximately $2.6 million from at least 27 investors for the CRP Fund, which held units in funds managed by GPB Capital. The SEC charged Levin with violating Section 15(a) of the Securities Exchange Act of 1934 because he operated as a broker-dealer without required registration. To resolve the matter, Levin entered a bifurcated settlement, consenting to a permanent injunction without admitting or denying the allegations. On April 30, 2024, the U.S. District Court for the Northern District of Texas granted the SEC's request for monetary remedies. These remedies include $320,000 in disgorgement and prejudgment interest, plus $115,231 in civil penalties. The litigation was spearheaded by the SEC’s New York Regional Office.

Enriched metadata

Scheme: broker-dealer-fraud (100%)
Court: Northern District of Texas
Outcome: settled
Disgorgement: $115,231
Civil penalty: $115,231
Victim loss: $2,600,000
Victims: 27
Entity: Daniel E. Levin

Classified broker-dealer-fraud(confidence 100%). EDGAR detection: forms Form D· recall 29% / precision 9%. detection rule →

Extracted insights

Dollar amounts 3

$2.60M $2.6 million $1M–$10M
$320K $320,000 $100K–$1M
$115K $115,231 $100K–$1M

Entities 2

agency Securities and Exchange Commission
agency the sec’s litigation

Triples 12

Securities and Exchange Commission Obtains Monetary Judgment Against Unregistered Broker
Levin Solicited Investors To Purchase Approximately $2.6 Million Worth Of Units In A Fund He Controlled
Levin Violated The Requirements Of The Broker-Dealer Registration Provisions
Levin Solicited Those Funds From At Least 27 Investors From 2017 Through 2018
The Complaint Charged Levin With Violating Section 15(a) Of The Securities Exchange Act Of 1934
Levin Consented To A Bifurcated Settlement
Levin Agreed To Be Permanently Enjoined From Violations Of The Charged Provision
The Court Entered The Bifurcated Judgment On July 26, 2023
The SEC Made A Motion For $320,000 In Disgorgement And Prejudgment Interest Thereon And Civil Penalties Of $115,231
The Court Granted The SEC’S Motion For $320,000 In Disgorgement And Prejudgment Interest Thereon And Civil Penalties Of $115,231
The SEC’S Litigation Was Led By Shannon Keyes, David Stoelting, And Lindsay S. Moilanen Of The SEC’S New York Regional Office
The SEC’S Litigation Was Supervised By Sheldon L. Pollock And Preethi Krishnamurthy

View original SEC litigation releasesec.gov

Extracted body text (1,626c)

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 25991 / May 1, 2024 Securities and Exchange Commission v. Levin, Civil Action No. 22-cv-01025 (N.D. Tx. filed May 9, 2023) SEC Obtains Monetary Judgment Against Unregistered Broker On April 30, 2024, the United States District Court for the Northern District of Texas granted the Securities and Exchange Commission’s request for monetary remedies against Daniel E. Levin. According to the SEC’s complaint filed on May 9, 2023, Levin solicited investors to purchase approximately $2.6 million worth of units in a fund he controlled, the CRP Fund, which in turn owned units in funds run by GPB Capital. Levin allegedly violated the requirements of the broker-dealer registration provisions by soliciting those funds from at least 27 investors from 2017 through 2018, without being registered with the SEC as a broker, as he was required to do. The complaint, filed in the Northern District of Texas, charged Levin with violating Section 15(a) of the Securities Exchange Act of 1934. Levin, without admitting or denying the allegations, consented to a bifurcated settlement, agreeing to be permanently enjoined from violations of the charged provision. The Court entered the bifurcated judgment on July 26, 2023. The SEC made a motion for $320,000 in disgorgement and prejudgment interest thereon and civil penalties of $115,231, which the Court granted on April 30, 2024. The SEC’s litigation was led by Shannon Keyes, David Stoelting, and Lindsay S. Moilanen of the SEC’s New York Regional Office and was supervised by Sheldon L. Pollock and Preethi Krishnamurthy.

OCR text (1,626c · html-text · 99% conf)