SEC v. Frederick Mintz and Alan Fraade (undisclosed control blocks, 2020)

Judgment entered

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In September 2020 a Boston federal court entered a consent judgment against attorneys Frederick Mintz and Alan Fraade in the BMP Holdings case, who the SEC said wrote false opinion letters to help merge the nominee-held shell into PixarBio. They pay $28,785.96 jointly, including interest, with no penalty, and were suspended from practising before the SEC.

The record

What was ordered

Civil penalty

—

Disgorgement

$28.8k

Prejudgment interest

—

Total relief

$28.8k

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 on September 16, 2020 (litigation release 24900) that on September 14, 2020 the U.S. District Court in Boston entered final judgment against Mintz and Fraade in SEC v. Sargent, filed in June 2019.

The SEC alleged that Henry Sargent created BMP Holdings and issued its shares to friends, family and co-workers to create free-trading shares for later sale, and that Mintz and Fraade, then licensed lawyers, prepared false attorney opinion letters to help merge BMP into PixarBio. They consented to a permanent injunction under Section 17(a), Section 10(b), Rule 10b-5 and Sections 5(a) and 5(c), a bar on providing legal services about registration exemptions, and joint payment of disgorgement plus interest totalling $28,785.96. No penalty was imposed because of their financial condition. Separate orders permanently suspended them from practising before the SEC. The case continued against the other defendants.

The $28,785.96 combines disgorgement and interest, which the release does not split. This library tags the matter as undisclosed control blocks. The record's defendant field held only "Henry Sargent et al."

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.

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

Timeline

1. 2020-09-16 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 2 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.