U.S. District Court Issues Final Judgment against Conrad Coggeshall In SEC Case
Conrad Coggeshall was found guilty of a Securities and Exchange Commission case by the U.S. District Court for the District of Arizona on December 16, 2022. Coggeshall allegedly raised $700,000.00 from elderly investors. Coggeshall allegedly misled investors into believing their money would be invested with Business Owners Tax Relief, LLC, a successful New York mergers and acquistions firm. He actually deposited funds in accounts of his Arizona company, which has the same name, and used them to trade securities, incur loss, pay personal costs, and falsely present interest payments to investors.
Coggeshall will be permanently barred from violating the securities laws, and he must pay a $385 536 civil penalty. Coggeshall must also pay disgorgement in the amount of $592 546, which represents his net profit from the fraudulent conduct. This is plus prejudgment interests of $100 299 73. The judgment does not consider the prejudgment interests and disgorgement already satisfied by an Arizona Corporation Commission default judgment against BOTR and Coggeshall in another case.
At the SEC’s request, BOTR was dismissed from its claims. The Court entered consent judgements against BOTR and Coggeshall prior to the final verdict. These judgments permanently barred Coggeshall for violating securities law and ordered disgorgement of prejudgment interest and a civil fine to be determined.
Robert M. Moye, Jen Peltz, and John E. Birkenheier were the SEC’s lead litigators. Daniel Hayes and John E. Birkenheier supervised them. The SEC thanks the Arizona Corporation Commission’s Securities Division and the Arizona Attorney-General for their assistance in this case.
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SEC: What You Need to Know
Securities and Exchange Commission is the regulatory agency that enforces and oversees securities laws in the United States. The SEC’s primary objective is to protect and promote investors, ensure fair and efficient markets and facilitate capital formation. This is achieved by the SEC regulating all securities-related industries, such as securities exchanges and dealers, investment advisers, mutual funds, and brokers. Mandatory disclosure requirements ensure that companies give accurate and transparent data to investors. The SEC takes legal action and investigates individuals and companies who violate securities laws. This promotes integrity and confidence in financial markets.
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