UNITED STATES SECURITIES AND EXCHANGE COMMISSION

SEC Admin Release 34-85074; IA Release 5108, February 7, 2019. 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 Ronald W. Nichter. On February 20, 2015, Nichter pleaded guilty to eight counts of mail fraud in violation of Title 18 United States Code, Section 1341 before the United States District Court for the Southern District of Indiana, in United States v. Ronald W. Nichter, Case No. 1:13CR00249. On March 9, 2016, a judgment in the criminal case was entered against Nichter. He was sentenced to a prison term of 12 months plus one day per count, to be served concurrently, followed by two years of supervised release, and ordered to make restitution in the amount of $16,742.34. The counts of the criminal indictment to which Nichter pled guilty alleged, inter alia, that: Nichter knowingly devised, and intended to devise, a scheme or artifice to defraud, and to obtain money, funds, and other property by means of materially false and fraudulent pretenses, representations and promises; that Nichter created false Letters of Authorization with client signatures forged by Nichter; that Nichter took custody of eight checks issued to his clients pursuant to the false Letters of Authorization; that Nichter forged client signatures on those checks and deposited them into an account he controlled; and that Nichter used the proceeds for his personal benefit.

Order

Bar (Permanent)

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

Indefinite

2/7/2019

Participating in any offering of a penny stock

Indefinite

2/7/2019

Penny Stock Bar

18 U.S.C. 1028A(a)(1), (b), and (c)(5), Aggravated Identity Theft

Dismissed

18 U.S.C. 1341, Mail Fraud

Pled guilty

FINRA

FINRA RULES 2010 AND 2150(A) AND NASD RULE 2330(A): NICHTER MISAPPROPRIATED APPROXIMATELY $140,000 FROM APPROXIMATELY TEN CUSTOMERS. IN ORDER TO CARRY OUT THE MISAPPROPRIATIONS, NICHTER FORGED THE CLIENTS' SIGNATURES ON LETTERS OF AUTHORIZATION THAT INSTRUCTED HIS MEMBER FIRM'S CLEARING FIRM TO ISSUE CHECKS MADE PAYABLE TO THE CUSTOMERS. NICHTER THEN INTERCEPTED THE CHECKS, ENDORSED THEM, DEPOSITED THEM INTO HIS PERSONAL ACCOUNT, AND UTILIZED THE FUNDS FOR HIS PERSONAL USE WITHOUT THE KNOWLEDGE AND CONSENT OF THE CUSTOMERS.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

Indefinite

4/30/2013

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