South Florida Arbitration & Litigation Lawyer Blog
In the Matter of Ryan M. Jindra
Recently, the Securities and Exchange Commission (Commission) announced that the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (Order) against Ryan M. Jindra (Jindra). The Order finds that during at least 2008 through June 2009, Jindra, through his wholly-owned entity Envision Investment Advisors, LLC (Envision), acted as an investment adviser, offering portfolio management services primarily to individual customers, having approximately $41.7 million in customer assets under management as of August 2008. The Order finds that on September 25, 2012, the U.S. District Court for the District of Nebraska entered a final judgment against Jindra in a civil action enjoining him from future violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 204 and 206 of the Investment Advisers Act of 1940 and Rules 204-2(a)(7)(B) and 206(4)-7 thereunder. The Order finds that the Commission’s complaint in the civil action alleged that Jindra caused at least $773,000 to be misappropriated out of accounts held by Envision customers purportedly as advisory fees. In addition, the Order finds that on April 27, 2012, a judgment of criminal conviction was entered against Jindra in U.S. District Court for the District of Nebraska for one count of wire fraud in violation of Title 18, U.S.C. Section 1343, and that Jindra was sentenced to 48 months imprisonment followed by three years of supervised release and ordered to make restitution of $484,235.52.
Based on the above, the Order bars Jindra from association with any broker, dealer, investment adviser, municipal securities dealer, or transfer agent. Jindra consented to the issuance of the Order.
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