UNITED STATES OF AMERICA

UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 101958 / December 18, 2024

ADMINISTRATIVE PROCEEDING

File No. 3-20252

In the Matter of

Scott T. Wolfrum,

Respondent.

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ORDER DIRECTING DISBURSEMENT

OF FAIR FUND

ADMINISTRATIVE PROCEEDING

File No. 3-20253

In the Matter of

Tyler C. Sadek,

Respondent.

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On February 12, 2024, the Division of Enforcement, pursuant to delegated authority,

published a Notice of Proposed Plan of Distribution and Opportunity for Comment (“Notice”),1

pursuant to Rule 1103 of the Commission’s Rules on Fair Fund and Disgorgement Plans

(“Commission’s Rules”);2 and simultaneously posted the Proposed Plan of Distribution (the

“Proposed Plan”). The Notice advised interested persons that they could obtain a copy of the

Proposed Plan from the Commission’s public website or by submitting a written request to

1

2

Exchange Act Rel. No. 99513 (Feb. 12, 2024).

17 C.F.R. § 201.1103.

Keshia Ellis, United States Securities and Exchange Commission, 100 F Street, NE, Washington,

DC 20549-5876. The Notice also advised that all persons desiring to comment on the Proposed

Plan could submit their comments, in writing, within 30 days of the Notice. The Commission

received no comments on the Proposed Plan during the comment period.

On April 11, 2024, the Division of Enforcement, pursuant to delegated authority, issued

an order approving the Proposed Plan,3 and posted the approved Plan of Distribution (the

“Plan”).

The Plan provides for the distribution of the Fair Fund, plus accumulated interest, less

taxes, fees, and expenses, to harmed investors according to the methodology set forth in the Plan.

In accordance with the Plan, the Fund Administrator has compiled the payee information

and prepared a payment file in a Commission-approved format. The Commission staff has

reviewed and accepted the payment file and requests, pursuant to Rule 1101(b)(6) of the

Commission’s Rules on Fair Fund and Disgorgement Plans,4 that the Commission direct the

payment of $73,150.82 from the Fair Fund for distribution by the Fund Administrator in

accordance with the Plan.

Accordingly, it is hereby ORDERED that the Commission staff shall direct the payment

of $73,150.82 from the Fair Fund for distribution to harmed investors in accordance with the

Plan.

For the Commission, by the Division of Enforcement, pursuant to delegated authority.5

Vanessa A. Countryman

Secretary

3

Exchange Act Rel. No. 99945 (Apr. 11, 2024).

17 C.F.R. § 201.1101(b)(6).

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17 C.F.R. § 200.30-4(a)(21)(v).

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