SEC v. Barry R. Bekkedam (2020)

Settled

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In April 2020 the SEC announced a settlement, subject to court approval, with former adviser Barry Bekkedam, who steered about $100 million of clients' money into a fund buying lawsuit settlements from attorney Scott Rothstein, whose scheme proved to be a Ponzi scheme. He agreed to an injunction and $150,000 of disgorgement plus $70,969 of interest; he served 11 months in a criminal case.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-24801
Date filed	2020-04-22
Status	settled
Criminal parallel	Yes: sentenced (Bekkedam)
Sentence	11 months
Defendants	Barry R. Bekkedam (individual)
Cited as charged or alleged	Advisers Act s.206 ; 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: —
Disgorgement: $150k
Prejudgment interest: $71k
Total relief: $221k
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 SEC announced the settlement on April 22, 2020 (LR-24801); the 2014 complaint is in the Eastern District of Pennsylvania. It alleges that from April to October 2009 Bekkedam misstated his due diligence and hid conflicts. The Ponzi scheme was Rothstein's, not Bekkedam's.

The Ponzi tag is removed: Bekkedam was charged as an adviser who sold another person's scheme with misleading statements. The record showed the status as unknown and omitted the interest and sentence.

Timeline

2020-04-22 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.