SEC v. Scott Newsholme (2019)

Judgment entered

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In April 2019 the SEC announced a final judgment against New Jersey tax preparer Scott Newsholme, enjoining him and ordering $1,567,384 of disgorgement and interest deemed satisfied by criminal restitution. He was barred from the industry and sentenced to 102 months for fabricating statements and pocketing clients' investment checks.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-24444
Date filed	2019-04-05
Date resolved	2019-04-05
Court	U.S. District Court, District of New Jersey
Status	judgment
Criminal parallel	Yes: sentenced (Newsholme)
Sentence	8y 6m
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

The SEC announced the judgment on April 5, 2019 (LR-24444); the court entered it on March 22, 2019 in the District of New Jersey. Newsholme pleaded guilty to wire fraud, aggravated identity theft and aiding false tax returns, and owes $2,043,291 in criminal restitution. The figures are combined disgorgement and interest, so none is recorded as disgorgement.

The Ponzi tag is removed because the release describes a theft of client funds, with some Ponzi-like payments mentioned as one allegation.

Timeline

2019-04-05 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)	Judgment entered
2019-04-05	SEC	SEC v. Scott Newsholme (2019)(this record)	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.