Michael Asimos: West Point Graduate and Wall Street Con Man

ORDER INSTITUTING PROCEEDINGS, MAKING FINDINGS, IMPOSING REMEDIAL SANCTIONS AND ISSUING A CEASE AND DESIST ORDER AGAINST MICHAEL ASIMOS

The commission announced that administrative proceedinqs were instituted against Michael W. Asimos (Asimos), formerly associated with two broker-dealers. Simultaneously, Asimos submitted an Offer of Settlement consenting to the entry of an Order, without admitting or denying the findings therein.

The Order contains findings that Asimos solicited friends, acquaintances and family members to invest in certain securities throuqh him by way of a special opportunity or program made available to him by the reqistered broker-dealer with which he was associated from July 1991 through March 1993.

At the time of this solicitation, Asimos had not obtained any such opportunity and the special program did not exist.

Asimos has returned the $35,000 he obtained from investors.

The Order requires Asimos to cease and desist from committing or causing any violations and any future violations of Section 17 (a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

The Order also bars Asimos from association with any broker, dealer, municipal securities dealer, investment adviser or investment company, with the right to reapply in three years.

The Commission determined, based on Asimos’ sworn financial statement that he does not have the ability to pay a civil penalty.

(Rels. 33-7058; 34-33994)

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Mike Asimos is a West Point Graduate…don't they have an honor code? Something about not tolerating lying, cheating, or stealing?