SEC v. Andrew K. Proctor, et al. (2016)

Settled

Checked against the primary document on October 2, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In June 2016 the Securities and Exchange Commission announced that Andrew K. Proctor and Atlas JG, LLC had agreed to settle charges of a $22 million offering fraud in which investors were told that funds would buy receivables from homebuilding subcontractors. The settlement, subject to court approval, requires $11,115,954 in disgorgement and $1,473,249 in prejudgment interest, jointly, and civil penalties of $910,000 for Proctor and $4,400,000 for Atlas. The complaint does not allege price manipulation.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-23568
Date filed	2016-06-14
Date resolved	2016-06-14
Status	settled
Asset class	equities
Criminal parallel	No
Defendants	Andrew K. Proctor (individual) ; Atlas JG, LLC (entity)
Cited as charged or alleged	Exchange Act s.10(b) and Rule 10b-5 ; Securities Act s.17(a) (statutes and rules cited in the document; not a finding that they were violated)
Techniques

What was ordered

Civil penalty: $5.3m
Disgorgement: $11.1m
Prejudgment interest: $1.5m
Total relief: $17.9m
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

the Securities and Exchange Commission announced this matter on June 14, 2016 as release LR-23568. The respondents named are Andrew K. Proctor and Atlas JG, LLC (1 individual, 1 entity).

The SEC alleges that from 2007 to 2011 Atlas raised more than $22 million from overseas investors in purported bonds, bought almost no receivables after 2008, paid earlier investors with new money and diverted funds to offshore investments and personal expenses. A penny-stock pump-and-dump appears in the release only as Proctor's earlier guilty plea and SEC bar, not as conduct charged in this case. This library carries no technique tag on this matter.

The conduct is recorded against equities.

The relief recorded in our data is civil penalties of $5,310,000 ($910,000 for Proctor and $4,400,000 for Atlas), disgorgement of $11,115,954, prejudgment interest of $1,473,249. Penalty and disgorgement are distinct: disgorgement returns the gain, while the penalty is punitive. We store them separately so that aggregate figures across the library are not double-counted.

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.

Timeline

2016-06-14 Litigation release published

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 litigation release

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.

Record added September 10, 2026. submit a correction.