SEC v. Thomas A. Guerriero; Oxford City Football Club, Inc.; and GCE Wealth, Inc., No. LR-23745, Southern District of Florida (Feb. 8, 2017) — Press Release
raw: Oxford City Football Club, Inc., et al.
Oxford City Football Club, Inc., et al., No. LR-23745 (Feb. 8, 2017)
Thomas Guerriero, CEO of Oxford City Football Club, Inc
Thomas Guerriero, CEO of Oxford City Football Club, Inc., is accused of using deceptive tactics to raise over $6.5 million from investors in a fraudulent stock offering. Guerriero allegedly misled investors into believing Oxford City was a thriving conglomerate, when in reality the company was losing millions of dollars annually. Guerriero was ordered to pay $2,240,173 in disgorgement plus interest, and was sentenced to 12½ years in prison and ordered to pay $6.6 million in restitution in a parallel criminal case. He was also permanently enjoined from violating securities laws and barred from serving as an officer or director of a public company. Oxford City was ordered to pay $6,600,000 in disgorgement plus interest.
Thomas Guerriero, CEO of Oxford City Football Club, Inc., is accused of using deceptive tactics to raise over $6.5 million from investors in a fraudulent stock offering. Guerriero allegedly misled investors into believing Oxford City was a thriving conglomerate, when in reality the company was losing millions of dollars annually. Guerriero was ordered to pay $2,240,173 in disgorgement plus interest, and was sentenced to 12½ years in prison and ordered to pay $6.6 million in restitution in a parallel criminal case. He was also permanently enjoined from violating securities laws and barred from serving as an officer or director of a public company. Oxford City was ordered to pay $6,600,000 in disgorgement plus interest. The U.S. SEC charged Thomas Guerriero and Oxford City Football Club, Inc. with a $6.5 million fraudulent stock offering, falsely portraying the company as a profitable conglomerate when it was actually losing millions annually with no viable revenue from its two low-tier U.K. soccer teams. Guerriero, the CEO, used a boiler room scheme to deceive investors, leading to a civil judgment imposing a $2.24 million disgorgement (satisfied by a parallel criminal restitution order) and severe penalties including a lifetime ban from securities offerings, penny stock participation, and corporate officer roles. In a related criminal case, Guerriero pled guilty to wire and mail fraud conspiracy and received a 12.5-year prison sentence plus $6.6 million in restitution. Oxford City was ordered to disgorge $6.6 million plus interest and had its securities registration revoked. The SEC credited the U.S. Attorney’s Office and FBI for their collaboration in the case. The U.S. SEC charged Thomas Guerriero and Oxford City Football Club, Inc. with a $6.5 million fraudulent stock offering, falsely portraying the company as a profitable conglomerate when it was actually losing millions with no viable revenue from its two low-tier U.K. soccer teams. Guerriero, the CEO, used a boiler room scheme to deceive investors, leading to a criminal conviction for conspiracy to commit wire and mail fraud, a 12.5-year prison sentence, and $6.6 million in criminal restitution. In the civil case, Guerriero and his entity GCE Wealth, Inc. were ordered to disgorge $2.24 million plus interest—offset by the criminal restitution—and are permanently barred from securities activities and corporate leadership. Oxford City was ordered to disgorge the full $6.6 million plus interest and had its securities registration revoked. The SEC collaborated with the U.S. Attorney’s Office and FBI in the enforcement action.
Extracted insights
- $6.60M $6.6 million $1M–$10M
- $6.60M $6,600,000 $1M–$10M
- $6.50M $6.5 million $1M–$10M
- $2.24M $2,240,173 $1M–$10M
- $253K $253,358 $100K–$1M
- $101K $100,648 $100K–$1M
- person judge kathleen williams
- company oxford city football club, inc.
- agency Securities and Exchange Commission
- organization Securities and Exchange Commission
- company thomas a. guerriero and oxford city football club, inc.
- Securities and Exchange Commission filed suit against Thomas A. Guerriero and Oxford City Football Club, Inc.
- Judge Kathleen Williams entered consent final judgments against Thomas A. Guerriero and Oxford City Football Club, Inc.
- Thomas A. Guerriero was subject to final judgments entered on January 26, 2017
- Oxford City Football Club, Inc. was subject to final judgments entered on January 26, 2017
- Thomas A. Guerriero entered consent final judgments against Thomas A. Guerriero and Oxford City Football Club, Inc. in Civil Action No. 15-CV-62594-KMW (S.D. Fla.)
- Oxford City Football Club, Inc. entered consent final judgments against Thomas A. Guerriero and Oxford City Football Club, Inc. in Civil Action No. 15-CV-62594-KMW (S.D. Fla.)
- U.S. Securities and Exchange Commission filed civil action against Thomas A. Guerriero and Oxford City Football Club, Inc. in Civil Action No. 15-CV-62594-KMW (S.D. Fla.)
- Thomas A. Guerriero entered consent final judgments
- Oxford City Football Club, Inc. entered consent final judgments
- Kathleen Williams entered consent final judgments
- United States District Court entered consent final judgments
- Securities and Exchange Commission v. Oxford City Football Club, Inc.
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23745 / February 8, 2017 Securities and Exchange Commission v. Oxford City Football Club, Inc., et al., Civil Action No. 15-CV-62594-KMW (S.D. Fla.) FINAL JUDGMENTS ENTERED AGAINST THOMAS GUERRIERO AND OXFORD CITY FOOTBALL CLUB On January 26, 2017, the Honorable Kathleen Williams of the United States District Court for the Southern District of Florida entered consent final judgments against defendants Thomas A. Guerriero and Oxford City Football Club, Inc. ("Oxford City"), and relief defendant GCE Wealth, Inc., in SEC v. Oxford City Football Club, Inc., et al., Civil Action No. 15-CV-62594-KMW (S.D. Fla.), a fraudulent stock offering case that the SEC filed on December 10, 2015. The SEC's complaint alleged that Guerriero, the CEO of Oxford City, used deceptive tactics and a boiler room to raise more than $6.5 million from investors who were misled to believe that Oxford City was a thriving conglomerate of sports teams, academic institutions, and real estate holdings, when in reality the company was losing millions of dollars each year and turning no profits from its two lower-division soccer teams in the U.K. The final judgment against Guerriero permanently enjoins him from violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 ("Securities Act"), Sections 10(b) and 20(b) of the Securities Exchange Act of 1934 ("Exchange Act"), and Rule 10b-5 thereunder; enjoins him from participating in the issuance, purchase, offer or sale of certain securities; bars him from participating in the offering of any penny stock; bars him from serving as an officer or director of a public company; and orders disgorgement of $2,240,173 plus prejudgment interest of $100,648. The final judgement against relief defendant GCE Wealth, Inc., an entity owned by Guerriero, also orders disgorgement of $2,240,173 plus prejudgment interest of $100,648. These disgorgement amounts are deemed satisfied by a restitution order entered against Guerriero in a parallel criminal case. In the criminal case, Guerriero pled guilty to conspiracy to commit wire and mail fraud and was sentenced to a 12½ year prison term, which he is now serving, and ordered to pay restitution of $6.6 million. United States v. Thomas A. Guerriero, Crim. Information No. 15-60317-CR-BLOOM (S.D. Fla). In related administrative proceedings, Guerriero consented to an SEC order barring him from future association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization. The final judgment against Oxford City enjoins it from violating Sections 5(a), 5(c), and 17(a) of the Securities Act, Sections 10(b) and 20(b) of the Exchange Act, and Rule 10b-5 thereunder; and orders disgorgement of $6,600,000 plus prejudgment interest of $253,358. In related administrative proceedings, Oxford City consented to SEC orders suspending the effectiveness of its registration statements and revoking the registration of its securities. The SEC thanks the U.S. Attorney's Office for the Southern District of Florida and the Federal Bureau of Investigation for their assistance in this matter. For further information, see Litigation Release No. (LR 23429).U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23745 / February 8, 2017 Securities and Exchange Commission v. Oxford City Football Club, Inc., et al., Civil Action No. 15-CV-62594-KMW (S.D. Fla.) FINAL JUDGMENTS ENTERED AGAINST THOMAS GUERRIERO AND OXFORD CITY FOOTBALL CLUB On January 26, 2017, the Honorable Kathleen Williams of the United States District Court for the Southern District of Florida entered consent final judgments against defendants Thomas A. Guerriero and Oxford City Football Club, Inc. ("Oxford City"), and relief defendant GCE Wealth, Inc., in SEC v. Oxford City Football Club, Inc., et al., Civil Action No. 15-CV-62594-KMW (S.D. Fla.), a fraudulent stock offering case that the SEC filed on December 10, 2015. The SEC's complaint alleged that Guerriero, the CEO of Oxford City, used deceptive tactics and a boiler room to raise more than $6.5 million from investors who were misled to believe that Oxford City was a thriving conglomerate of sports teams, academic institutions, and real estate holdings, when in reality the company was losing millions of dollars each year and turning no profits from its two lower-division soccer teams in the U.K. The final judgment against Guerriero permanently enjoins him from violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 ("Securities Act"), Sections 10(b) and 20(b) of the Securities Exchange Act of 1934 ("Exchange Act"), and Rule 10b-5 thereunder; enjoins him from participating in the issuance, purchase, offer or sale of certain securities; bars him from participating in the offering of any penny stock; bars him from serving as an officer or director of a public company; and orders disgorgement of $2,240,173 plus prejudgment interest of $100,648. The final judgement against relief defendant GCE Wealth, Inc., an entity owned by Guerriero, also orders disgorgement of $2,240,173 plus prejudgment interest of $100,648. These disgorgement amounts are deemed satisfied by a restitution order entered against Guerriero in a parallel criminal case. In the criminal case, Guerriero pled guilty to conspiracy to commit wire and mail fraud and was sentenced to a 12½ year prison term, which he is now serving, and ordered to pay restitution of $6.6 million. United States v. Thomas A. Guerriero, Crim. Information No. 15-60317-CR-BLOOM (S.D. Fla). In related administrative proceedings, Guerriero consented to an SEC order barring him from future association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization. The final judgment against Oxford City enjoins it from violating Sections 5(a), 5(c), and 17(a) of the Securities Act, Sections 10(b) and 20(b) of the Exchange Act, and Rule 10b-5 thereunder; and orders disgorgement of $6,600,000 plus prejudgment interest of $253,358. In related administrative proceedings, Oxford City consented to SEC orders suspending the effectiveness of its registration statements and revoking the registration of its securities. The SEC thanks the U.S. Attorney's Office for the Southern District of Florida and the Federal Bureau of Investigation for their assistance in this matter. For further information, see Litigation Release No. (LR 23429).