SEC v. Bruce Schoengood, Medifirst Solutions, Inc., and Joshua Tyrell (unregistered distributions, 2023)

Judgment entered

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In 2023, the Securities and Exchange Commission published a release announcing it had obtained a final judgment against Medifirst Solutions, Inc., an issuer charged with a fraudulent scheme to evade registration requirements through shares issued to a stock promoter. The judgment enjoins the company from antifraud and Section 5 violations; no money is recorded. This library classifies the conduct as unregistered distributions. A parallel criminal matter is referenced in the release.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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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 October 27, 2023 as release LR-25886. The respondents named are Bruce Schoengood, Medifirst Solutions, Inc., and Joshua Tyrell (1 individual, 1 entity). The action was brought in the U.S. District Court, Eastern District of New York.

The release reports a final judgment against the issuer in a case also naming its president and a stock promoter. It describes the scheme only as one designed to evade registration requirements and does not itself allege undisclosed compensation for promotion, so the record is tagged as an unregistered distribution; the earlier releases in the same matter describe the sham consulting agreement under which the promoter was paid in shares.

This library tags the matter as unregistered distributions, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The release references a parallel criminal proceeding. Where a criminal case exists, the civil and criminal outcomes are recorded separately, because they resolve on different standards of proof.

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. 2023-10-27 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.

Same matter

The library links these 3 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

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

Record added September 10, 2026. submit a correction.