SEC v. Gregg R. Mulholland (unregistered distributions, 2015)

Settled

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The SEC's June 2015 case against Gregg Mulholland over secretly accumulated Vision Plasma Systems shares ended in a consent final judgment entered on 11 January 2017 in the Eastern District of New York. It orders $21,645,753.20 in disgorgement and $3,013,602.37 in interest, deemed satisfied by criminal restitution, and he consented to industry and penny stock bars. He had pleaded guilty to money-laundering conspiracy in a parallel criminal case.

The record

What was ordered

Civil penalty

—

Disgorgement

$21.6m

Prejudgment interest

$3m

Total relief

$24.7m

Alleged gain

$21m

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 25, 2015 as release LR-23293. The respondents named are Gregg R. Mulholland (1 individual, 0 entities). The action was brought in the U.S. District Court, Eastern District of New York.

The complaint alleges that Mulholland secretly built an 84 percent stake in Vision Plasma and sold into the market through front companies without a registration statement. The release mentions a prior pump-and-dump case against him only as history, and the $5.3 million judgment in that earlier case is not relief in this one. The U.S. Attorney's Office announced parallel criminal charges. This library tags the matter as unregistered distributions and undisclosed control blocks.

The conduct is recorded against equities.

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.

Nothing in the regulator's filing has been proven, and the respondents are entitled to the presumption that it has not been. This page will be updated if the matter is resolved, dismissed or withdrawn.

Judge I. Leo Glasser entered a final judgment against Mulholland on 11 January 2017. He consented to it without admitting the allegations. It permanently enjoins him from violating Section 5 of the Securities Act, adds conduct-based injunctions, and orders disgorgement of $21,645,753.20 plus prejudgment interest of $3,013,602.37, a total of $24,659,355.57, which is to be deemed satisfied by the restitution or forfeiture order in his criminal case, on the condition that his asset disclosures there are accurate and complete. The SEC also reports that he consented to an administrative order imposing industry and penny stock bars, and that he pleaded guilty on 9 May 2016 to money-laundering conspiracy. The release does not report a prison sentence, so none is recorded here.

For the regulator's own account of the facts, read the primary documents linked above. This page summarises the structured record and does not reproduce them.

What technique is this, and how does it work?

This action is tagged with 2 techniques 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.
• Undisclosed control blocks — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2015-06-25 Litigation release published
2. 2017-01-11 Final judgment entered by consent (E.D.N.Y.)

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
• SEC litigation release 23719 (final judgment)
• Final judgment as to Gregg R. Mulholland (11 Jan 2017)

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.