SEC v. William Quigley (2017)
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.
In March 2017 the SEC settled with William Quigley, a former broker-dealer compliance director who set up and controlled the accounts into which his brothers' victims wired money in a fraudulent offering scheme. He was barred from the securities industry and from penny stock offerings and ordered to pay $356,891 in disgorgement, deemed satisfied by a criminal forfeiture order; no civil penalty was imposed because of his six-month prison sentence.
The record
| Agency | SEC |
|---|---|
| Release number | 3-16560 |
| Date filed | 2017-03-24 |
| Date resolved | 2017-03-24 |
| Status | settled |
| Asset class | bonds, equities |
| Criminal parallel | Yes: sentenced (William Quigley), U.S. District Court, Eastern District of New York, 2016-10-26 |
| Sentence | 6 months |
| Bars imposed | registration bar, penny stock bar |
| Defendants | William Quigley |
| Cited as charged or alleged | Exchange Act s.10(b) and Rule 10b-5 ; Securities Act s.17(a) ; 18 U.S.C. 1349 (attempt and conspiracy) |
| Techniques |
What was ordered
- Civil penalty
- —
- Disgorgement
- $357k
- Prejudgment interest
- —
- Total relief
- $357k
- Alleged gain
- —
What is alleged to have happened
The Securities and Exchange Commission issued this settled order on March 24, 2017 in administrative proceeding 3-16560. The respondent is William Quigley (1 individual, 0 entities). Earlier versions of this record split his name into two respondents.
The order finds that Quigley, Director of Compliance and anti-money-laundering officer at Trident Partners Ltd. on Long Island, took part in a fraudulent offering scheme run with his brothers Michael and Brian. The brothers solicited foreign investors to buy supposed blue-chip and pre-IPO stocks that were never bought; Quigley opened and controlled the bank and brokerage accounts that received the wires, and investors were sent phony statements. He was found to have violated the antifraud provisions and, as an aider and abettor, the broker-dealer books-and-records rules.
On March 24, 2016 he pleaded guilty to conspiracy to commit wire fraud in the Eastern District of New York and was sentenced to six months in prison. The SEC ordered disgorgement of $356,891, deemed satisfied by the criminal forfeiture, imposed no civil penalty in light of the sentence, and barred him from the industry and from penny stock offerings.
The order's one use of "churning" describes a brother's earlier disclosure history at another firm, not conduct charged here, so this library applies no technique tag.
For the regulator's own account of the facts, read the primary document linked above.
Timeline
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.