SEC v. BRYAN SCOTT MCMILLAN, No. 4:24-cv-919, Northern District of Texas (Dec. 23, 2025) — Judgment

[OCR_UNRECOVERABLE method=recover reason=missing_pdf ts=2026-08-11T14:53:34.228Z]                                                           

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UNITED STATES DISTRICT COURT 
FOR THE NORTHERN DISTRICT OF TEXAS 

FORT WORTH DIVISION 
 

UNITED STATES SECURITIES AND 
EXCHANGE COMMISSION, 

   Plaintiff, 

 v. 

BRYAN SCOTT MCMILLAN, 
 

 Defendant.  

 

 
         
    No. 4:24-cv-00919-P 

 

 
FINAL JUDGMENT AS TO DEFENDANT BRYAN SCOTT MCMILLAN 

 
The Securities and Exchange Commission having filed a Complaint and Defendant Bryan 

Scott McMillan having entered a general appearance; consented to the Court’s jurisdiction over 

Defendant and the subject matter of this action; consented to entry of this Final Judgment 

without admitting or denying the allegations of the Complaint (except as to jurisdiction and 

except as otherwise provided herein in paragraph V); waived findings of fact and conclusions of 

law; and waived any right to appeal from this Final Judgment: 

I. 

 IT IS ORDERED, ADJUDGED, AND DECREED that Defendant is permanently 

restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Securities 

Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Exchange Act Rule 10b-5 

[17 C.F.R. § 240.10b-5], by using any means or instrumentality of interstate commerce, or of the 

mails, or of any facility of any national securities exchange, in connection with the purchase or 

sale of any security: 

(a) to employ any device, scheme, or artifice to defraud;   

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(b) to make any untrue statement of a material fact, or to omit to state a material fact 

necessary in order to make the statements made, in the light of the circumstances 

under which they were made, not misleading;  or 

(c) to engage in any act, practice, or course of business which operates or would 

operate as a fraud or deceit upon any person 

by: (i) buying or selling a security of any issuer, on the basis of material nonpublic information, 

in breach of a fiduciary duty or other duty of trust or confidence that is owed directly, indirectly, 

or derivatively, to the issuer of that security or the shareholders of that issuer, or to any other 

person who is the source of the information; or (ii) by communicating material nonpublic 

information about a security or issuer, in breach of a fiduciary duty or other duty of trust or 

confidence, to another person or persons for purposes of buying or selling any security. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendant’s 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

II. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, pursuant to Section 

21(d)(2) of the Exchange Act [15 U.S.C. § 78u(d)(2)], Defendant is prohibited for two (2) years 

following the date of entry of this Final Judgment, from acting as an officer or director of any 

issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act [15 

U.S.C. § 78l] or that is required to file reports pursuant to Section 15(d) of the Exchange Act [15 

U.S.C. § 78o(d)]. 

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III. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable 

for disgorgement of $81,400, representing net profits gained as a result of the conduct alleged in 

the Complaint, together with prejudgment interest thereon in the amount of $18,260.76.  The 

Court finds that sending the disgorged funds to the United States Treasury, as ordered below, is 

consistent with equitable principles.  The Court further imposes a civil penalty in the amount of 

$122,100 pursuant to Section 21A of the Exchange Act.  Defendant shall satisfy these 

obligations by paying $221,760.76 to the Securities and Exchange Commission within 30 days 

after entry of this Final Judgment. 

Defendant may transmit payment electronically to the Commission, which will provide 

detailed ACH transfer/Fedwire instructions upon request.  Payment may also be made directly 

from a bank account via Pay.gov through the SEC website at 

http://www.sec.gov/about/offices/ofm.htm.  Defendant may also pay by certified check, bank 

cashier’s check, or United States postal money order payable to the Securities and Exchange 

Commission, which shall be delivered or mailed to  

Enterprise Services Center 
Accounts Receivable Branch 
6500 South MacArthur Boulevard 
Oklahoma City, OK 73169 
 

and shall be accompanied by a letter identifying the case title, civil action number, and name of 

this Court; Bryan S. McMillan as a defendant in this action; and specifying that payment is made 

pursuant to this Final Judgment.   

Defendant shall simultaneously transmit photocopies of evidence of payment and case 

identifying information to the Commission’s counsel in this action.  By making this payment, 

Defendant relinquishes all legal and equitable right, title, and interest in such funds and no part 

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of the funds shall be returned to Defendant.  The Commission shall send the funds paid pursuant 

to this Final Judgment to the United States Treasury.   

The Commission may enforce the Court’s judgment for disgorgement and prejudgment 

interest by using all collection procedures authorized by law, including, but not limited to, 

moving for civil contempt at any time after 30 days following entry of this Final Judgment.  The 

Commission may enforce the Court’s judgment for penalties by the use of all collection 

procedures authorized by law, including the Federal Debt Collection Procedures Act, 28 U.S.C. 

§ 3001 et seq., and moving for civil contempt for the violation of any Court orders issued in this 

action. 

Defendant shall pay post judgment interest on any amounts due after 30 days of the entry 

of this Final Judgment  pursuant to 28 U.S.C. § 1961.   

IV. 
 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is 

incorporated herein with the same force and effect as if fully set forth herein, and that Defendant 

shall comply with all of the undertakings and agreements set forth therein. 

V. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for purposes of 

exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. §523, the 

allegations in the complaint are true and admitted by Defendant, and further, any debt for 

disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant under this 

Final Judgment or any other judgment, order, consent order, decree or settlement agreement 

entered in connection with this proceeding, is a debt for the violation by Defendant of the federal 

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securities laws or any regulation or order issued under such laws, as set forth in Section 

523(a)(19) of the Bankruptcy Code, 11 U.S.C. §523(a)(19). 

VI. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain 

jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. 

 SO ORDERED on this 22nd day of December 2025.  

 
 

 

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MARK T. PITTMAN 
UNITED STATES DISTRICT JUDGE 
 

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