SEC v. Michael P. Zenger, No. LR-22916, District of Utah (Feb. 4, 2014) — Press Release

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Michael P. Zenger is accused of orchestrating an offering fraud, soliciting at least $200,000 from two friends for trading futures contracts, commodities, and government securities. Zenger allegedly misappropriated approximately $100,000 for personal expenses, including luxury purchases and vehicle payments. He is charged with violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act of 1934 and Rule 10b-5. The SEC seeks a preliminary and permanent injunction, disgorgement, prejudgment interest, and civil penalties. The outcome is an asset freeze and temporary restraining order obtained by the SEC.

Michael P. Zenger is accused of orchestrating an offering fraud, soliciting at least $200,000 from two friends for trading futures contracts, commodities, and government securities. Zenger allegedly misappropriated approximately $100,000 for personal expenses, including luxury purchases and vehicle payments. He is charged with violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act of 1934 and Rule 10b-5. The SEC seeks a preliminary and permanent injunction, disgorgement, prejudgment interest, and civil penalties. The outcome is an asset freeze and temporary restraining order obtained by the SEC. The U.S. Securities and Exchange Commission (SEC) filed a civil complaint against Michael P. Zenger, a Lehi, Utah resident, for orchestrating an offering fraud by soliciting at least $200,000 from two investors under the false pretense of trading futures, commodities, and government securities. The SEC alleges Zenger misappropriated approximately $100,000 for personal expenses, including luxury car payments, private jet rentals, and high-end retail purchases. The complaint charges Zenger with violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act of 1934, along with Rule 10b-5. The SEC obtained a temporary restraining order and emergency asset freeze, and seeks permanent injunctive relief, disgorgement, prejudgment interest, and civil penalties. The investigation was led by SEC attorneys Jennifer Moore and Scott Frost, with litigation handled by Thomas Melton. The U.S. Securities and Exchange Commission (SEC) filed a civil complaint against Michael P. Zenger, a Lehi, Utah resident, for orchestrating an offering fraud by soliciting at least $200,000 from two investors under the false pretense of trading futures, commodities, and government securities. The SEC alleges Zenger misappropriated approximately $100,000 of investor funds for personal expenses, including luxury car payments, private airplane rentals, and high-end retail purchases. The complaint charges Zenger with violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act of 1934 along with Rule 10b-5. The SEC obtained a temporary restraining order and emergency asset freeze, and seeks preliminary and permanent injunctions, disgorgement, prejudgment interest, and civil penalties. The investigation was led by SEC attorneys Jennifer Moore and Scott Frost, with litigation handled by Thomas Melton.