SEC v. Mark A. Jones
Case No. 16-c-10524-RGS (D. Mass.)

On March 15, 2016, the Commission filed a complaint (the “Complaint”) against Mark A. Jones (“Defendant”). The Complaint alleged that, between approximately 2007 and 2015, the Defendant violated the federal securities laws when he made fraudulent offering of securities and perpetrated a Ponzi scheme for an enterprise he called “The Bridge Fund.” See Complaint.

The Defendant was ordered to pay a total of $3,982,973.48 in disgorgement, prejudgment interest, and penalty to the Commission. The Commission was ordered to hold all funds, together with interest and income earned thereon (collectively, the “Fund”), pending further order of the Court. See Defendant’s Final Judgment.

The Commission holds approximately $302,000.00 paid to it on behalf of Jones (the “Distribution Fund”), and additional monies received will be added to the Distribution Fund.

On May 7, 2018, the Commission filed a motion for an order approving a distribution plan (the “Plan”) and appointing Cathi Pappas, a Commission employee, as the Distribution Agent of the Distribution Fund. See the Plan.

On July 2, 2018, the Court entered an order approving the Plan and appointing Cathi Pappas, a Commission employee, as the Distribution Agent of the Distribution Fund. See the Court’s Order.

The Plan provides for the distribution of the Distribution Fund to investors who were harmed by the improper conduct alleged in the Commission’s underlying lawsuit.

On October 18, 2019, the Commission filed a motion and memorandum in support for an order approving the final accounting, discharging the Distribution Agent, and related relief. See the Commission’s Motion and Memorandum.

The distribution in this case was closed on October 21, 2019, when the Court granted the Commission’s motion and entered an order approving the final accounting, discharging the Distribution Agent, and related relief. See the Court’s Order.