UNITED STATES SECURITIES AND EXCHANGE COMMISSION

SEC Admin Release 34-83883, Accounting and Auditing Enforcement Release 3959 / August 17, 2018: The Securities and Exchange Commission deems it appropriate to issue an order of forthwith suspension of Daniel H. Glick pursuant to Rule 102(e)(2) of the Commission's Rules of Practice, 17 C.F.R. § 201.102(e)(2). The Commission finds that Daniel H. Glick was licensed as a certified public accountant in Illinois from 1991 to 2014. On January 9, 2018, Glick pled guilty to one count of wire fraud in violation of Title 18 United States Code, Section 1343 before the United States District Court for the Northern District of Illinois, in United States v. Daniel Glick, Case No. 17-cr-739. On April 17, 2018, a judgment in the criminal case was entered against Glick. He was sentenced to a prison term of 151 months and ordered to pay restitution in the amount of $5,206,432.09. In connection with that plea, Glick admitted, among other things that: (a) he engaged in a fraudulent scheme designed to benefit himself and his companies to the financial detriment of clients and two financial institutions; (b) as part of his scheme, Glick misappropriated at least several million dollars of funds from clients and financial institutions, and lied to clients about the use, status and safety of their invested funds; and (c) he created and provided false and misleading account statements to clients and made Ponzi-type payments to clients. On October 6, 2014, the Illinois Department of Financial and Professional Regulation ("Illinois DFPR") revoked Glick's Certified Public Accountant license. The Illinois DFPR imposed this disciplinary action based on unprofessional conduct related to the misappropriation of personal funds of a tax client for Glick's personal use.

Order

Suspension

from appearing or practicing before the Commission pursuant to Rule 102(e)(2) of the Commission's Rules of Practice

Indefinite

8/17/2018

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

SEC Admin Release 34-83173, IA Release 40-4907 / May 4, 2018: The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Daniel H. Glick, CPA ("Respondent"). The Commission finds that on April 17, 2018, a final judgment was entered by consent against Glick, permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933 ("Securities Act"), Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Advisers Act, in the civil action entitled Securities and Exchange Commission v. Daniel H. Glick, et al., Case No. 12-cv-2251, in the United States District Court for the Northern District of Illinois. The Commission's complaint alleged that from 2011 to 2016, in connection with the purchase or sale of securities, Glick misused and misappropriated investor funds, prepared and distributed false account statements that misrepresented the investments made and the amount invested, and otherwise engaged in a variety of conduct which operated as a fraud and deceit on investors. On January 9, 2018, Glick pled guilty to one count of wire fraud in violation of Title 18 United States Code, Section 1343 before the United States District Court for the Northern District of Illinois, in United States v. Daniel Glick, Case No. 17-cr-739. On April 17, 2018, a judgment in the criminal case was entered against Glick. He was sentenced to a prison term of 151 months and ordered to make restitution in the amount of $5,206,432.09. In connection with that plea, Glick admitted, among other things that from 2011 through 2017: (a) he engaged in a fraudulent scheme designed to benefit himself and his companies to the financial detriment of clients and two financial institutions; (b) as part of his scheme, Glick misappropriated at least several million dollars of funds from clients and financial institutions, and lied to clients about the use, status and safety of their invested funds; and (c) he created and provided false and misleading account statements to clients and made Ponzi-type payments to clients.

Order

Bar (Permanent)

association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO

Indefinite

5/4/2018

participating in any offering of a penny stock

Indefinite

5/4/2018

Wire Fraud

Convicted

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

SEC Litigation Release No. 23794 / March 29, 2017: The Securities and Exchange Commission announced an emergency asset freeze and temporary restraining order against a Chicago-based investment adviser, Daniel H. Glick, and his financial management company accused of scamming elderly investors out of millions of dollars. The SEC alleges that Daniel H. Glick and his unregistered investment advisory firm Financial Management Strategies (FMS) provided clients with false account statements to hide Glick's use of client funds to pay personal and business expenses, purchase a Mercedes-Benz, and pay off loans and debts among other misuses. According to the SEC's complaint, Glick was barred by FINRA in 2014 and had his Certified Financial Planner designation and Certified Public Accountant license revoked for conduct unrelated to today's SEC charges. The SEC's complaint also names Glick Accounting Services, Glick's business partner, and Glick's business acquaintance as relief defendants for the purposes of recovering client funds that Glick transferred or paid them in the form of advances or loans. The complaint alleges that Glick and FMS violated Sections 17(a)(1), 17(a)(2) and 17(a)(3) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940.

Judgment Rendered

Injunction

permanently restrained

FINRA

WITHOUT ADMITTING OR DENYING THE FINDINGS, GLICK CONSENTED TO THE SANCTION AND TO THE ENTRY OF FINDINGS THAT IN THE COURSE OF AN INVESTIGATION, FINRA REQUESTED DOCUMENTS AND INFORMATION FROM GLICK, CONCERNING FINDINGS BY THE CERTIFIED FINANCIAL PLANNER BOARD OF STANDARDS THAT HE FORGED CLIENTS' SIGNATURES ON LETTERS TO A BANK IN ORDER TO GAIN ACCESS TO, AND MISAPPROPRIATE, THEIR ASSETS. THE FINDINGS STATED THAT GLICK INFORMED FINRA THAT HE WILL NOT PROVIDE THE REQUESTED DOCUMENTS AND INFORMATION.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

3/27/2014

WITHOUT ADMITTING OR DENYING ANY FINDINGS, GLICK CONSENTED TO THE ENTRY OF THE AWC.