SEC v. Bryant United Capital Funding, Inc.; and Wammel Group, LLC, No. 4:17-cv-00336-ALM, Eastern District of Texas (Feb. 20, 2025) — Judgment

IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF TEXAS
SHERMAN DIVISION
_____________________________________________ 
SECURITIES AND EXCHANGE COMMISSION   :
      :
Plaintiff,  :
      :
v.      :   Civil Action No.: 4:17-cv-00336-ALM
      :
THURMAN P. BRYANT, III,     :
BRYANT UNITED CAPITAL FUNDING, INC., :
ARTHUR F. WAMMEL, and :
WAMMEL GROUP, LLC, :
:
Defendants.  :
:
FINAL JUDGMENT AS TO DEFENDANTS BRYANT UNITED CAPITAL
FUNDING, INC. AND WAMMEL GROUP, LLC
The Securities and Exchange Commission having filed the Complaint (Dkt. #1) and
the First Amended Complaint (Dkt. #154), and Defendants Bryant United Capital Funding,
Inc. (“Bryant United”) and Wammel Group, LLC (“Wammel Group”) (collectively,
“Defendants”) having entered general appearances; consented to the Court’s jurisdiction over
Defendants and the subject matter of this action; consented to entry of this Final Judgment
with
out admitting or denying the allegations of the First Amended Complaint (except as to
ju
risdiction); waived findings of fact and conclusions of law; and waived any right to appeal
f
rom this Final Judgment:
I.
I
T IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendants are
permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the
Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5

2
(a)to employ any device, scheme, or artifice to defraud;
(b)to make any untrue statement of a material fact or to omit to state a material fact
necessary in order to make the statements made, in the light of the circumstances
under which they were made, not misleading; or
(c)to engage in any act, practice, or course of business which operates or would
operate as a fraud or deceit upon any person.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in
Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who
receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendants’
officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or
participation with Defendants or with anyone described in (a).
II.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that
Defendants are permanently restrained and enjoined from violating Section 17(a) of the
Securities Act of 1933 (the “Securities Act”) [15 U.S.C. § 77q(a)] in the offer or sale of any
security by the use of any means or instruments of transportation or communication in interstate
commerce or by use of the mails, directly or indirectly:
(a)to employ any device, scheme, or artifice to defraud;
promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of
interstate commerce, or of the mails, or of any facility of any national securities exchange, in
co
nnection with the purchase or sale of any security:

3
(b)to obtain money or property by means of any untrue statement of a material fact
or any omission of a material fact necessary in order to make the statements
made, in light of the circumstances under which they were made, not misleading;
or
(c)to engage in any transaction, practice, or course of business which operates or
would operate as a fraud or deceit upon the purchaser.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in
Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who
receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendants’
officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or
participation with Defendants or with anyone described in (a).
III.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Bryant
United is liable, jointly and severally with Defendant Thurman P. Bryant, III (“Bryant”), for
disgorgement in the amount of $4,290,830.71, representing net profits gained as a result of the
conduct alleged in the First Amended Complaint, together with prejudgment interest thereon in
the amount of $162,899.10, for a total of $4,453,729.81.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Wammel
Group is liable, jointly and severally with Defendant Arthur F. Wammel (“Wammel”), for
disgorgement in the amount of $5,989,605.50, representing net profits gained as a result of the
conduct alleged in the First Amended Complaint, together with prejudgment interest thereon in
the amount of $227,392.17, for a total of $6,216,997.67.

4
WHEREAS on July 19, 2017, the Court entered its Amended Order Appointing Receiver
[
Dkt. No. 48] (“Amended OAR”) finding the appointment of a receiver “necessary and
appropriate for the purposes of marshaling and preserving all assets of Defendants Bryant,
Bryant United, Wammel, Wammel Group Holdings Partnership; and Wammel Group
(‘Receivership Assets’).”  The Cou
rt then appointed Jennifer R. Ecklund (the “Receiver”) to
serve as the court-appointed receiver for the Receivership Assets.  Id. at ¶ 2.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendants’
obligations to pay the disgorgement and prejudgment interest amounts identified above shall be
deemed satisfied by th
e amount collected by the Receiver and distributions to investors.
IV.
IT IS FURTHER ORDER
ED, ADJUDGED, AND DECREED that the Consent is
incorporated herein with the same force and
 effect as if fully set forth herein, and that Defendants
sh
all comply with all of the undertakings and agreements set forth therein.
V.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain
jurisdiction
of this matter for the purposes of enforcing the terms of this Final Judgment.
VI.
There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil
Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without f
urther notice.

IT IS
SO ORDERED.

.
                                                                  ___________________________________
       AMOS L. MAZZANT
                                                                  UNITED STATES DISTRICT JUDGE
 SIGNED this 28th day of January, 2025.

IN THE UNITED STATES DISTRICT COURT 
FOR THE EASTERN DISTRICT OF TEXAS 

SHERMAN DIVISION 
_____________________________________________ 
SECURITIES AND EXCHANGE COMMISSION  : 

      : 
Plaintiff,  : 

      : 
v.      :   Civil Action No.: 4:17-cv-00336-ALM 
      : 

THURMAN P. BRYANT, III,     : 
BRYANT UNITED CAPITAL FUNDING, INC., : 
ARTHUR F. WAMMEL, and : 
WAMMEL GROUP, LLC, : 

: 
Defendants.  : 

: 

FINAL JUDGMENT AS TO DEFENDANTS BRYANT UNITED CAPITAL  
FUNDING, INC. AND WAMMEL GROUP, LLC

The Securities and Exchange Commission having filed the Complaint (Dkt. #1) and 

the First Amended Complaint (Dkt. #154), and Defendants Bryant United Capital Funding, 

Inc. (“Bryant United”) and Wammel Group, LLC (“Wammel Group”) (collectively, 

“Defendants”) having entered general appearances; consented to the Court’s jurisdiction over 

Defendants and the subject matter of this action; consented to entry of this Final Judgment 

without admitting or denying the allegations of the First Amended Complaint (except as to 

jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal 

from this Final Judgment: 

I. 

IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendants are 

permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the 

Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 

Case 4:17-cv-00336-ALM     Document 397     Filed 01/28/25     Page 1 of 4 PageID #:  6456



2 

(a) to employ any device, scheme, or artifice to defraud;

(b) to make any untrue statement of a material fact or to omit to state a material fact

necessary in order to make the statements made, in the light of the circumstances

under which they were made, not misleading; or

(c) to engage in any act, practice, or course of business which operates or would

operate as a fraud or deceit upon any person.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendants’ 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendants or with anyone described in (a). 

II. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that 

Defendants are permanently restrained and enjoined from violating Section 17(a) of the 

Securities Act of 1933 (the “Securities Act”) [15 U.S.C. § 77q(a)] in the offer or sale of any 

security by the use of any means or instruments of transportation or communication in interstate 

commerce or by use of the mails, directly or indirectly: 

(a) to employ any device, scheme, or artifice to defraud;

promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of 

interstate commerce, or of the mails, or of any facility of any national securities exchange, in 

connection with the purchase or sale of any security: 

Case 4:17-cv-00336-ALM     Document 397     Filed 01/28/25     Page 2 of 4 PageID #:  6457



3 

(b) to obtain money or property by means of any untrue statement of a material fact

or any omission of a material fact necessary in order to make the statements

made, in light of the circumstances under which they were made, not misleading;

or

(c) to engage in any transaction, practice, or course of business which operates or

would operate as a fraud or deceit upon the purchaser.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendants’ 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendants or with anyone described in (a). 

III. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Bryant 

United is liable, jointly and severally with Defendant Thurman P. Bryant, III (“Bryant”), for 

disgorgement in the amount of $4,290,830.71, representing net profits gained as a result of the 

conduct alleged in the First Amended Complaint, together with prejudgment interest thereon in 

the amount of $162,899.10, for a total of $4,453,729.81.   

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Wammel 

Group is liable, jointly and severally with Defendant Arthur F. Wammel (“Wammel”), for 

disgorgement in the amount of $5,989,605.50, representing net profits gained as a result of the 

conduct alleged in the First Amended Complaint, together with prejudgment interest thereon in 

the amount of $227,392.17, for a total of $6,216,997.67.   

Case 4:17-cv-00336-ALM     Document 397     Filed 01/28/25     Page 3 of 4 PageID #:  6458



4 

WHEREAS on July 19, 2017, the Court entered its Amended Order Appointing Receiver 

[Dkt. No. 48] (“Amended OAR”) finding the appointment of a receiver “necessary and 

appropriate for the purposes of marshaling and preserving all assets of Defendants Bryant, 

Bryant United, Wammel, Wammel Group Holdings Partnership; and Wammel Group 

(‘Receivership Assets’).”  The Court then appointed Jennifer R. Ecklund (the “Receiver”) to 

serve as the court-appointed receiver for the Receivership Assets.  Id. at ¶ 2. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendants’ 

obligations to pay the disgorgement and prejudgment interest amounts identified above shall be 

deemed satisfied by the amount collected by the Receiver and distributions to investors. 

IV.  

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is 

incorporated herein with the same force and effect as if fully set forth herein, and that Defendants 

shall comply with all of the undertakings and agreements set forth therein. 

V. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain 

jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. 

VI.  

There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil 

Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice.

 IT IS SO ORDERED.

Case 4:17-cv-00336-ALM     Document 397     Filed 01/28/25     Page 4 of 4 PageID #:  6459

.

                                                                  ___________________________________
       AMOS L. MAZZANT

                                                                  UNITED STATES DISTRICT JUDGE

 SIGNED this 28th day of January, 2025.