SEC v. Deyonte Jahtori Anthony (free riding and parking, 2023)

Settled

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In August 2023 the SEC charged North Carolina man Deyonte Anthony with free riding, alleging he made $1 million in bogus deposits from a bank account holding nine cents and bought $199,956.65 of securities on immediate-access credit. He consented to an injunction and account restrictions, with a penalty to be set later, subject to court approval.

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 on August 28, 2023 (litigation release 25816) a complaint filed on August 25, 2023 in the Middle District of North Carolina.

The SEC alleged that between July 1 and 6, 2022 Anthony opened a brokerage account with an application overstating his income, made $1 million of bogus deposits from a bank account holding nine cents, and used the broker's immediate-access credit to buy $199,956.65 of securities before the deposits reversed. The broker froze the account and liquidated the holdings before he made any profit. He is charged under Section 10(b) and Rule 10b-5.

Without admitting or denying, Anthony consented to a judgment, subject to court approval, enjoining him from violating the charged provisions, imposing limits on his brokerage activity, and a civil penalty to be set later by the court on the SEC's motion. This library tags the matter as free riding. No amount is recorded.

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.

• Free riding and parking — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2023-08-28 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.

Related actions

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

Record added September 10, 2026. submit a correction.