NASD

NASD CONDUCT RULES 2110 AND 2330 AND NASD PROCEDURAL RULE 8210- RESPONDENT OPERATED A FRAUDULENT PONZI SCHEME BY WHICH HE RAISED APPROXIMATELY $2,204,500 FROM AT LEAST NINE PUBLIC CUSTOMERS. HE SOLICITED CUSTOMERS TO INVEST IN A FICTITIOUS ENTITY. IN ORDER TO LULL AND ENTICE POTENTIAL INVESTORS, HE PROVIDED THEM WITH DOCUMENTS, WHICH HE PREPARED ON COMPANY LETTERHEAD. HE ALSO PROVIDED BOGUS PERIODIC STATEMENTS ON HIS MEMBER FIRM'S LETTERHEAD THAT SHOWED GROWTH IN THEIR ACCOUNTS. DOLD COMMINGLED THE INVESTORS' FUNDS AND USED THEM TO MAKE PURPORTED PROFIT PAYMENTS TO EARLIER INVESTORS AND FOR HIS PERSONAL USE AND BENEFIT. HIS ACTIONS WERE DONE WITHOUT THE CUSTOMERS' KNOWLEDGE, AUTHORIZATION, OR CONSENT. DOLD ALSO FAILED TO RESPOND TO REQUESTS FOR INFORMATION FROM NASD.

Acceptance, Waiver & Consent(AWC)

Bar

WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, RESPONDENT CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS; THEREFORE, HE IS BARRED FROM ASSOCIATION WITH ANY NASD MEMBER FIRM IN ANY CAPACITY.

TOTAL COUNTS CHARGED: ONE. PLED GUILTY COUNT OF VIOLATION OF 18 USC 1957(A) IN THAT HE DEPOSITED FUNDS OBTAINED FROM CERTAIN CUSTOMERS BY FRAUD IN A BANK ACCOUNT HE CONTROLLED. UPON DISCOVERING THE FA'S THEFTS, PRUDENTIAL EQUITY GROUP REPORTED THIS MATTER TO THE FEDERAL BUREAU OF INVESTIGATION AND DISTRICT 6 OF THE NASD.

FELONY

CONVICTED BY PLEA. SENTENCED 3/11/2005 TO 120 MONTHS STARTING 3/11/2005 FOLLOWED BY 3 YEARS OF SUPERVISED RELEASE, AND RESTITUTION OF $1,931,949.00

CO-EXECUTORS FOR THE ESTATE ASSERT THAT FROM 1995 - 2002 THE BROKER FRAUDULENTLY SOLICITED THE DECEASED TO INVEST IN "LW INC." WHICH THEY CLAIM WAS OWNED BY DOLD, AND THAT THE FUNDS WERE IN AN ACCOUNT "IN DOLD'S OWN NAME AND UNDER HIS SOLE CONTROL." THEY FURTHER CLAIM DOLD FORGED A $50,000 CHECK FROM THE CLIENT'S ACCOUNT PAYABLE TO LW INC. IN APPROXIMATELY 2002.

$986,000.00

$2,020,600.00