SEC v. Scott Newsholme (2018)

Judgment entered

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In April 2018 the SEC announced a New Jersey judgment, entered April 13, against tax preparer and adviser Scott Newsholme for defrauding clients of more than $1 million, with disgorgement, interest and a penalty to be set later. He pleaded guilty to wire fraud and related counts.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-24120
Date filed	2018-04-23
Date resolved	2018-04-23
Court	U.S. District Court, District of New Jersey
Status	judgment
Criminal parallel	Yes: guilty plea (Scott Newsholme), U.S. District Court, District of New Jersey, 2018-04-11
Defendants	Scott Newsholme (individual)
Cited as charged or alleged	Advisers Act s.206 ; Exchange Act s.10(b) and Rule 10b-5 ; Securities Act s.17(a) ; 18 U.S.C. 1343 (wire fraud) (statutes and rules cited in the document; not a finding that they were violated)
Techniques

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
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

Newsholme consented to a judgment enjoining him under the Securities Act, Exchange Act and Advisers Act. The SEC's 2017 complaint alleged fabricated statements, doctored certificates and forged notes, and cashing clients' checks at a check-cashing store. He pleaded guilty on April 11, 2018.

The Ponzi-like payments to clients seeking their money are incidental to a theft case, so the ponzi-schemes tag has been removed, as on his 2017 record. Money relief is not yet fixed.

Timeline

2018-04-23 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 3 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.

Date filed	Agency	Record	Status
2017-09-06	SEC	SEC v. Scott Newsholme (2017)	Judgment entered
2018-04-23	SEC	SEC v. Scott Newsholme (2018)(this record)	Judgment entered
2019-04-05	SEC	SEC v. Scott Newsholme (2019)	Judgment entered

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.

Record added September 10, 2026. submit a correction.