SEC v. Idle Media, Inc. and Marcus Frasier (2015)

Settled

✓ Checked against the primary document on October 3, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In September 2015 the SEC settled with Idle Media, Inc. and its chief executive Marcus Frasier over repeated restatements and reporting and internal-control failures tied to the parent company's accounts, with a $50,000 penalty each. The case does not concern a reverse-merger scheme.

The record

What was ordered

Civil penalty

$100k

Disgorgement

—

Prejudgment interest

—

Total relief

$100k

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 instituted and settled this cease-and-desist proceeding on September 22, 2015 (Exchange Act release 75963), without admission or denial by the respondents.

The order finds that Idle Media, which runs the Datpiff music site, repeatedly restated its financial statements between August 2012 and December 2013 because revenue and expenses processed through accounts of its parent Zoeter, LLC, owned by Frasier, were mishandled. It finds that Frasier, who signed the filings and certifications, failed to maintain adequate books, records and internal controls. The company's 2010 reverse merger is mentioned only as how it became public, so the record no longer carries the reverse-merger tag.

Each respondent was ordered to cease and desist from the reporting and books-and-records provisions and to pay a $50,000 civil penalty, $100,000 in all. The record had shown $50,000, and its defendant name read "and Marcus Frasier".

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.

Timeline

1. 2015-09-22 Administrative proceeding instituted (cease-and-desist)

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 order

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.