Robert Glenn Bard, et al.

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 21936 / April 18, 2011

SEC v. Robert Glenn Bard, et al., Civil Action No. 1:09-cv-1473 (M.D. Pa.)

FEDERAL COURT ENTERS ORDER FINDING ROBERT GLENN BARD IN CONTEMPT

The Securities and Exchange Commission announced that on April 12, 2011, United States District Judge William C. Caldwell of the United States District Court for the Middle District of Pennsylvania entered a stipulated order finding defendant Robert Glenn Bard in contempt based on Bard's receipt of funds, control of client accounts, and participation in income activities in the financial services sector in violation of two of the Court's previous orders. The Court ordered Bard to provide a verified accounting listing his clients and assets acquired since August 11, 2009, and further ordered him to provide a notice to all clients informing them that he had been held in contempt, and that he was prohibited from controlling client money or working in the financial services sector.

The Commission previously filed a civil injunctive action against Bard and his investment advisory firm, Vision Specialist Group, alleging that defendants had violated the federal securities laws through fraudulent misrepresentations regarding client investments, account performance and advisory fees, the creation of false client account statements, and forgery of client documents. The case is currently set for trial in August 2011.

See: Stipulated Order of Contempt

For further information, see Litigation Release No. 21160 (July 30, 2009).