SEC v. American Bondholders Foundation, LLC and Jonna Bianco (unregistered distributions, 2020)

Settled

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In 2020 the SEC settled an administrative order against American Bondholders Foundation, LLC and its president Jonna Bianco for an unregistered offering that raised over $3.6 million, with a $65,000 penalty.

The record

What was ordered

Civil penalty

$65k

Disgorgement

—

Prejudgment interest

—

Total relief

$65k

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

On April 30, 2020 the SEC accepted a settlement with American Bondholders Foundation, LLC and its president Jonna Bianco. The order finds that from 2015 to mid-2019 they raised over $3.6 million from at least 180 investors in an investment-contract offering tied to defaulted Chinese government bonds, with no registration statement and no exemption, violating Securities Act Sections 5(a) and 5(c). The record previously showed the two respondents as one name.

This library tags the matter as unregistered distributions, based on the conduct the document describes. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Unregistered distributions — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2020-04-30 Administrative proceeding instituted (cease-and-desist)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.