SEC v. Jason A. Wallace (boiler rooms, 2017)

Judgment entered

✓ Checked against the primary document on October 2, 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.

Report an error in this record (sec-jason-a-wallace-boiler-rooms-2017) by email

In 2017, the SEC obtained a final judgment against former boiler room operator Jason A. Wallace in the Central District of California, ordering $512,049 in combined disgorgement and prejudgment interest and a civil penalty of $434,887, with a penny stock bar and injunctions.

The record

What was ordered

Civil penalty

$435k

Disgorgement

$512k

Prejudgment interest

—

Total relief

$947k

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 this matter on December 18, 2017 as litigation release 24016. The defendant named is Jason A. Wallace. The final judgment of December 15, 2017, entered after a May 2017 default, enjoins him from violating Securities Act Sections 5 and 17(a) and Exchange Act Sections 9(a)(2), 10(b) and 15(a), bars him from penny stock offerings, and orders $512,048.80 in disgorgement and prejudgment interest combined and a $434,887.07 civil penalty. The record previously omitted the penalty.

This library tags the matter as boiler rooms, based on the conduct the document describes. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

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.

• Boiler rooms — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2017-12-18 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.