SEC v. Olde Monmouth Stock Transfer Co., Inc. and Matthew J. Troster (reverse merger schemes, 2017)

Settled

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.

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In 2017 the SEC settled an administrative order against transfer agent Olde Monmouth Stock Transfer Co., Inc. and Matthew J. Troster for transfers that violated Section 5, with $22,140 disgorgement, $4,043 interest and $100,000 in penalties.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	3-17827
Date filed	2017-02-07
Date resolved	2017-02-07
Status	settled
Asset class	equities
Venue	OTC
Criminal parallel	No
Defendants	Olde Monmouth Stock Transfer Co., Inc. (entity) ; Matthew J. Troster (individual)
Cited as charged or alleged	Securities Act s.5 (statutes and rules cited in the document; not a finding that they were violated)
Techniques	Reverse merger schemes , Unregistered distributions

What was ordered

Civil penalty: $100k
Disgorgement: $22.1k
Prejudgment interest: $4k
Total relief: $126k
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

On February 7, 2017 the SEC accepted settlements with Olde Monmouth Stock Transfer Co., Inc. and Matthew J. Troster. The order finds that Olde Monmouth willfully violated Securities Act Sections 5(a) and 5(c) in unregistered transactions in Spongetech and Analytica Bio-Energy shares, by issuing and transferring shares without restrictive legends. It orders $22,140 in disgorgement, $4,043.38 in interest and civil penalties of $100,000. The record previously showed the status as judgment and one name for both respondents.

This library tags the matter as reverse merger schemes and unregistered distributions, 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 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.

Reverse merger schemes — see how it works, what statute it engages, and every other action tagged the same way.
Unregistered distributions — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

2017-02-07 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.

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

Action	Agency	Filed	Technique	Penalty	Status
SEC v. Charles Parkinson Lloyd (reverse merger schemes, 2021)	SEC	2021-09-15	Reverse Merger Schemes , Unregistered Distributions	$40k	settled
SEC v. S. Paul Kelley, et al. (reverse merger schemes, 2019)	SEC	2019-12-20	Reverse Merger Schemes , Unregistered Distributions	—	settled
SEC v. James M. Schneider and Andrew H. Wilson (blank check shells, 2017)	SEC	2017-10-11	Reverse Merger Schemes , Unregistered Distributions	—	settled
SEC v. Abraxas J. Discala, Marc E. Wexler, Matthew A. Bell, Craig L. Josephberg, and Ira Shapiro (reverse merger schemes, 2015)	SEC	2015-11-04	Reverse Merger Schemes , Unregistered Distributions	—	judgment
SEC v. International Capital Group, LLC (reverse merger schemes, 2015)	SEC	2015-01-29	Reverse Merger Schemes , Unregistered Distributions	$1.5m	settled
SEC v. Zachary Miller (unregistered distributions, 2026)	SEC	2026-03-05	Unregistered Distributions	—	settled

Record added September 10, 2026. submit a correction.