The Securities and Exchange Commission

[Stock]

34-55820 May 29, 2007 Christian Nigro
http://www.sec.gov/litigation/admin/2007/34-55820.pdf

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 55820 / May 29, 2007
ADMINISTRATIVE PROCEEDING
File No. 3-12613
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:
:
In the Matter of : ORDER MAKING FINDINGS AND
: IMPOSING REMEDIAL SANCTIONS
: PURSUANT TO
CHRISTIAN NIGRO : SECTION 15(b) OF THE : SECURITIES EXCHANGE ACT OF 1934
:
Respondent. :
:
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I.
On April 10, 2007, the Securities and Exchange Commission (“Commission”) instituted administrative proceedings, pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”), against Christian Nigro (“Nigro” or “Respondent”).
II.
Respondent has submitted an Offer of Settlement (the “Offer”), which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over him and the subject matter of these proceedings and the findings contained in Section III. 2, which are admitted, Respondent consents to the entry of this Order Making Findings and Imposing Remedial Sanctions Pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Order”), as set forth below.
2
III.
On the basis of this Order and Respondent’s Offer, the Commission finds that:
1. Nigro, age 31, from December 2000 to October 2001 was a registered representative associated with Valley Forge Securities, Inc. (“Valley Forge”), a broker-dealer registered with the Commission pursuant to Section 15(b) of the Exchange Act.
2. On May 24, 2005, Nigro pled guilty to one count of conspiracy to commit securities fraud. United States v. Christian Nigro, 06 Cr. 38 (D.N.J.).
3. The sole count of the criminal information to which Nigro pled guilty alleged, among other things, that Nigro participated in a scheme while employed at Valley Forge Securities to manipulate the price of Select Media Communications, Inc. and to receive undisclosed, excessive commissions from the sales of stocks while employed at Valley Forge.
IV.
In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions agreed to in Nigro’s Offer.
Accordingly, it is hereby ORDERED:
Pursuant to Section 15(b)(6) of the Exchange Act that Nigro be, and hereby is barred from association with any broker or dealer.
Any reapplication for association by Nigro will be subject to the applicable laws and regulations governing the reentry process, and reentry may be conditioned upon a number of factors, including, but not limited to, the satisfaction of any or all of the following: (a) any disgorgement ordered against Nigro, whether or not the Commission has fully or partially waived payment of such disgorgement; (b) any arbitration award related to the conduct that served as the basis for the Commission order; (c) any self-regulatory organization arbitration award to a
customer, whether or not related to the conduct that served as the basis for the Commission order; and (d) any restitution order by a self-regulatory organization, whether or not related to the conduct that served as the basis for the Commission order.
For the Commission, by its Secretary, pursuant to delegated authority.
Nancy M. Morris
Secretary