2025-02-20 sec-litreleases litigation_release 66 KB 2,373 chars

SEC v. Thurman P. Bryant, III; Bryant United Capital Funding, Inc.; Arthur F. Wammel; and Wammel Group, LLC, No. LR-26252, Eastern District of Texas (Feb. 20, 2025) — Press Release

raw: Thurman P. Bryant, III; Bryant United Capital Funding, Inc.; Arthur F. Wammel; Wammel Group, LLC

Thurman P. Bryant, III; Bryant United Capital Funding, Inc.; Arthur F. Wammel; Wammel Group, LLC, No. 4:17-cv-00336-ALM (Feb. 20, 2025)

Caption
Securities and Exchange Commission v. Thurman P. Bryant, III, et al.
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summary

The SEC obtained final judgments against Thurman P. Bryant, III, Arthur F. Wammel, and their respective companies for operating fraudulent mortgage and Ponzi schemes.

paragraph

The defendants were charged with violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 for defrauding investors through false promises of guaranteed returns. The court ordered Bryant and Bryant United to pay $4,290,830.71 in disgorgement plus interest, while Wammel and Wammel Group were ordered to pay $5,989,605.50 plus interest. These amounts were deemed satisfied by prior distributions and criminal restitution orders.

narrative

The SEC successfully obtained final judgments against Thurman P. Bryant, III, Bryant United Capital Funding, Inc., Arthur F. Wammel, and Wammel Group, LLC. The litigation revealed that Bryant and Bryant United fraudulently raised $22.7 million through false promises of guaranteed mortgage industry returns. Additionally, Wammel and Wammel Group operated a related $44.7 million Ponzi scheme that defrauded investors. The defendants faced charges for violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934. The court ordered disgorgement and prejudgment interest totaling over $10 million for the various defendants. These financial obligations were deemed satisfied by funds collected by a court-appointed receiver and previous criminal restitution orders. Finally, the court permanently enjoined the defendants from future violations of federal securities antifraud provisions.

Enriched metadata

Scheme
ponzi (98%)
Court
Eastern District of Texas
Case No.
4:17-cv-00336-ALM
Disgorgement
$5,989,606
Restitution
$9,103,088
Entity
Thurman P. Bryant, III
Classified ponzi(confidence 98%). EDGAR detection: forms Form D· recall 35% / precision 15%. detection rule →
Statutes
Section 17(a) of the Securities ActRule 10b-5
Parties
Securities and Exchange CommissionThurman P. Bryant, IIIBryant United Capital Funding, Inc.Arthur F. WammelWammel Group, LLC
Keywords
bryantwammelwammel wammelwammel groupfinal judgmentsthurman bryantbryant capitalcapital fundingarthur wammelsecurities exchangebryant bryantprejudgment interestgroupsecuritiesfinal

Exhibits & Attached Documents (3)

Extracted insights

Dollar amounts 7
  • $44.70M $44.7 million $10M–$100M
  • $22.70M $22.7 million $10M–$100M
  • $9.10M $9,103,088 $1M–$10M
  • $5.99M $5,989,605 $1M–$10M
  • $4.29M $4,290,830 $1M–$10M
  • $227K $227,392 $100K–$1M
  • $163K $162,899 $100K–$1M
Entities 5
  • court district court
  • person Jason P. Reinsch
  • agency Securities and Exchange Commission
  • location United States
  • company wammel and wammel group
Triples 11
  • U.S. Securities And Exchange Commission obtained final judgments Thurman P. Bryant, III, Bryant United Capital Funding, Inc., Arthur F. Wammel, and Wammel Group, LLC
  • Bryant and Bryant United fraudulently raised $22.7 million from investors based on false promises of guaranteed investment returns in the mortgage industry
  • Wammel and Wammel Group operated a related $44.7 million Ponzi scheme that defrauded Bryant’s investors and others
  • SEC charged defendants with violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder
  • district court ordered Bryant and Bryant United to pay disgorgement of $4,290,830.71 plus prejudgment interest of $162,899.10
  • district court ordered Wammel and Wammel Group to pay disgorgement of $5,989,605.50 plus prejudgment interest of $227,392.17
  • district court permanently enjoined defendants from future violations of the antifraud provisions of the federal securities laws
  • United States ordered restitution of $9,103,088.12 against Bryant in United States v. Bryant, No. 4:17-cr-00213-ALM-CAN-1
  • United States ordered restitution of $9,103,088.12 against Wammel in United States v. Wammel, No. 4:17-cr-00213-ALM-KPJ-2
  • Jason P. Reinsch led the litigation
  • SEC conducted investigation through Jason P. Reinsch and Carol Stumbaugh
PDF (from attached: judgment)
FINAL JUDGMENT AS TO DEFENDANT THURMAN P. BRYANT, III · Source
Text layers
Extracted body text (2,373c) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26252 / February 20, 2025 Securities and Exchange Commission v. Thurman P. Bryant, III, et al., Case No. 4:17-cv-00336-ALM (E.D. Tex. filed May 15, 2017) SEC Obtains Final Judgments Against Perpetrators of Fraudulent Mortgage Investment Scheme and Ponzi Scheme On January 28, 2025, the U.S. District Court for the Eastern District of Texas entered final judgments against Thurman P. Bryant, III, Bryant United Capital Funding, Inc., Arthur F. Wammel, and Wammel Group, LLC. The entries of the final judgments resolve all claims arising out of the SEC’s complaint, filed on May 15, 2017, and amended on January 26, 2018. The amended complaint alleged that Bryant and Bryant United fraudulently raised $22.7 million from investors based on false promises of guaranteed investment returns in the mortgage industry. The amended complaint also alleged that Wammel and Wammel Group operated a related $44.7 million Ponzi scheme that defrauded Bryant’s investors and others. The amended complaint charged defendants with violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The district court’s final judgments ordered defendants to pay disgorgement with prejudgment interest and permanently enjoined the defendants from future violations of the antifraud provisions of the federal securities laws identified above. Specifically, the court ordered: (a)Bryant and Bryant United to pay, jointly and severally, disgorgement of $4,290,830.71, plus prejudgment interest thereon in the amount of $162,899.10; and (b) Wammel and Wammel Group to pay, jointly and severally, disgorgement of $5,989,605.50, plus prejudgment interest thereon in the amount of $227,392.17. The final judgments deemed these disgorgement and prejudgment amounts satisfied by the amount collected by a court-appointed receiver and distributions to investors, and by the restitution of $9,103,088.12 ordered against Bryant in United States v. Bryant, No. 4:17-cr-00213-ALM-CAN-1 (E.D. Tex.) and against Wammel in United States v. Wammel, No. 4:17-cr-00213-ALM-KPJ-2 (E.D. Tex.). The litigation was led by Jason P. Reinsch and supervised by Keefe M. Bernstein. The SEC’s investigation was conducted by Mr. Reinsch and Carol Stumbaugh and supervised by Barbara Gunn.
OCR text (2,373c · html-text · 99% conf) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26252 / February 20, 2025 Securities and Exchange Commission v. Thurman P. Bryant, III, et al., Case No. 4:17-cv-00336-ALM (E.D. Tex. filed May 15, 2017) SEC Obtains Final Judgments Against Perpetrators of Fraudulent Mortgage Investment Scheme and Ponzi Scheme On January 28, 2025, the U.S. District Court for the Eastern District of Texas entered final judgments against Thurman P. Bryant, III, Bryant United Capital Funding, Inc., Arthur F. Wammel, and Wammel Group, LLC. The entries of the final judgments resolve all claims arising out of the SEC’s complaint, filed on May 15, 2017, and amended on January 26, 2018. The amended complaint alleged that Bryant and Bryant United fraudulently raised $22.7 million from investors based on false promises of guaranteed investment returns in the mortgage industry. The amended complaint also alleged that Wammel and Wammel Group operated a related $44.7 million Ponzi scheme that defrauded Bryant’s investors and others. The amended complaint charged defendants with violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The district court’s final judgments ordered defendants to pay disgorgement with prejudgment interest and permanently enjoined the defendants from future violations of the antifraud provisions of the federal securities laws identified above. Specifically, the court ordered: (a)Bryant and Bryant United to pay, jointly and severally, disgorgement of $4,290,830.71, plus prejudgment interest thereon in the amount of $162,899.10; and (b) Wammel and Wammel Group to pay, jointly and severally, disgorgement of $5,989,605.50, plus prejudgment interest thereon in the amount of $227,392.17. The final judgments deemed these disgorgement and prejudgment amounts satisfied by the amount collected by a court-appointed receiver and distributions to investors, and by the restitution of $9,103,088.12 ordered against Bryant in United States v. Bryant, No. 4:17-cr-00213-ALM-CAN-1 (E.D. Tex.) and against Wammel in United States v. Wammel, No. 4:17-cr-00213-ALM-KPJ-2 (E.D. Tex.). The litigation was led by Jason P. Reinsch and supervised by Keefe M. Bernstein. The SEC’s investigation was conducted by Mr. Reinsch and Carol Stumbaugh and supervised by Barbara Gunn.

Related documents (3)