SEC v. Providence Financial Investments, Inc., Providence Fixed Income Fund, LLC, Jeffory Churchfield, and Jack Jarrell (unregistered distributions, 2016)

Settled

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In June 2016 the SEC sued Providence Financial Investments, its fund and individuals including Jeffory Churchfield and Jack Jarrell. Consent judgments against Jarrell (July 2018) and Churchfield and Anthony Buzaneli (January 10, 2020) order about $2.9 million in disgorgement and $150,000 in penalties; the Providence entities were not checked.

The record

What was ordered

Civil penalty

$150k

Disgorgement

$2.9m

Prejudgment interest

$535k

Total relief

$3.6m

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 June 13, 2016 the SEC announced a complaint in the District of Minnesota alleging that Providence Financial Investments, Inc. and Providence Fixed Income Fund, LLC raised over $64 million from over 400 investors through unregistered promissory notes paying 12% to 13%, while repaying investors from new money, and that Jeffory Churchfield and Jack Jarrell sold unregistered securities as unregistered brokers. It charges Securities Act Sections 5(a), 5(c) and 17(a)(2) among others. On June 10, 2016 the entities consented to preliminary injunctions only. These are allegations. The record previously showed the status as judgment.

This library tags the matter as 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.

Three judgments entered on consent are on the docket. Jarrell's, filed July 9, 2018, orders disgorgement of $540,559, interest of $45,534 and a $100,000 penalty. Churchfield's, filed January 10, 2020, orders disgorgement of $240,904, interest of $45,613 and a $50,000 penalty, after a partial judgment of April 2017 that left amounts open. Buzaneli's, filed the same day, orders disgorgement of $2,158,931 and interest of $444,188, deemed satisfied by his criminal restitution order, and the SEC withdrew its penalty claim because of his prison sentence. The money fields add these figures. This page has not read any judgment against Providence Financial Investments, Inc. or Providence Fixed Income Fund, LLC. Checked on 2026-10-04.

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.

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

Timeline

1. 2016-06-13 Litigation release published
2. 2018-07-09 Consent final judgment against Jack Jarrell
3. 2020-01-10 Consent final judgments against Jeffory Churchfield and Anthony Buzaneli

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
• Final judgment as to Jarrell (July 9, 2018)
• Final judgment as to Churchfield (Jan. 10, 2020)
• Final judgment as to Buzaneli (Jan. 10, 2020)

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.