SEC v. Joseph M. Laura; and Anthony R. Sichenzio, No. LR-26238, Eastern District of New York (Feb. 5, 2025) — Press Release

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26238 / February 5, 2025 Securities and Exchange Commission v. Laura, et al., No. 1:18-cv-05075 (E.D.N.Y. filed Sept. 7, 2018) SEC Obtains Judgments Against Defendants who are Ordered to Pay Over $8 Million for Roles in Offering Fraud On January 16, 2025, the United States District Court for the Eastern District of New York entered judgments ordering defendants Joseph M. Laura and Anthony R. Sichenzio to pay over $8 million in disgorgement, prejudgment interest, and civil penalties. The SEC’s complaint, filed on September 7, 2018, alleged that, between 2013 and 2017, Laura and Sichenzio defrauded approximately 80 investors and misappropriated investor funds through sales of securities in a company that falsely claimed to have exclusive rights to a crude oil processing technology. In the judgments, the Court ordered Laura to pay $3,431,860 in disgorgement, $1,732,128 in prejudgment interest, and a civil penalty of $292,016. Sichenzio was ordered to pay $1,629,369 in disgorgement, $822,375 in prejudgment interest, and a civil penalty of $165,689. The SEC’s complaint charged Laura with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, as well as the unregistered broker dealer provision of Section 15(a)(1) of the Exchange Act. It charged Sichenzio with violating the antifraud provisions of Sections 17(a)(1) and (3) of the Securities Act and Section 10(b) of the Exchange Act and Rules 10b-5(a) and (c) thereunder, and with aiding and abetting Laura’s violations of Section 17(a)(2) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5(b) thereunder. The Court had previously entered judgments against Laura and Sichenzio, in which they consented, without admitting or denying the SEC’s allegations, to the entry of injunctions against future violations of the charged provisions, as set forth in the judgments. A final judgment was entered against the third defendant in this action on January 24, 2023. The entry of the judgments against Laura and Sichenzio concludes the litigation in the District Court in this action. The SEC’s litigation was led by Hayden Brockett, Margaret Spillane, and Neil Hendelman, and was supervised by Thomas P. Smith, Jr., all of the New York Regional Office.

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26238 / February 5, 2025 Securities and Exchange Commission v. Laura, et al., No. 1:18-cv-05075 (E.D.N.Y. filed Sept. 7, 2018) SEC Obtains Judgments Against Defendants who are Ordered to Pay Over $8 Million for Roles in Offering Fraud On January 16, 2025, the United States District Court for the Eastern District of New York entered judgments ordering defendants Joseph M. Laura and Anthony R. Sichenzio to pay over $8 million in disgorgement, prejudgment interest, and civil penalties. The SEC’s complaint, filed on September 7, 2018, alleged that, between 2013 and 2017, Laura and Sichenzio defrauded approximately 80 investors and misappropriated investor funds through sales of securities in a company that falsely claimed to have exclusive rights to a crude oil processing technology. In the judgments, the Court ordered Laura to pay $3,431,860 in disgorgement, $1,732,128 in prejudgment interest, and a civil penalty of $292,016. Sichenzio was ordered to pay $1,629,369 in disgorgement, $822,375 in prejudgment interest, and a civil penalty of $165,689. The SEC’s complaint charged Laura with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, as well as the unregistered broker dealer provision of Section 15(a)(1) of the Exchange Act. It charged Sichenzio with violating the antifraud provisions of Sections 17(a)(1) and (3) of the Securities Act and Section 10(b) of the Exchange Act and Rules 10b-5(a) and (c) thereunder, and with aiding and abetting Laura’s violations of Section 17(a)(2) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5(b) thereunder. The Court had previously entered judgments against Laura and Sichenzio, in which they consented, without admitting or denying the SEC’s allegations, to the entry of injunctions against future violations of the charged provisions, as set forth in the judgments. A final judgment was entered against the third defendant in this action on January 24, 2023. The entry of the judgments against Laura and Sichenzio concludes the litigation in the District Court in this action. The SEC’s litigation was led by Hayden Brockett, Margaret Spillane, and Neil Hendelman, and was supervised by Thomas P. Smith, Jr., all of the New York Regional Office.