UNITED STATES SECURITIES AND EXCHANGE COMMISSION

SEC Admin Release 34-79338, IA Release 40-4569, November 17, 2016: 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 Mark D. Holt ("Respondent" or "Holt"). The Commission also deems it appropriate to issue an order of forthwith suspension of Respondent pursuant to Rule 102(e)(2) of the Commission's Rules of Practice [17 C.F.R. § 201.102(e)(2)]. On April 1, 2014, Holt pleaded 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 District of Minnesota, in United States v. Mark D. Holt, Crim. Information No. 14-CR-68. On August 14, 2014, a judgment in the criminal case was entered against Holt. He was sentenced to a prison term of 120 months followed by three years of supervised release and ordered to make restitution in the amount of $2,940,982.75. Holt, 47 years old, is currently incarcerated at the Federal Prison Camp in Duluth, Minnesota (BOP Registry No. 17865-041). The count of the criminal information to which Holt pled guilty alleged, among other things, that from in or about September 2005 through January 12, 2014, Holt defrauded his customers to obtain their property and money. In particular, Holt knowlingly caused an email communication to be transmitted in interstate commerce via servers in Texas to a customer in Minnesota that would give the customer access to false account statements. Holt represented to his brokerage customers that he would invest their funds in investment vehicles such as bond funds and mutual funds. Instead, Holt misappropriated their funds by depositing customer checks into a bank account he controlled and using these funds to pay for personal and business expenses. In furtherance of his scheme, Holt lulled his customers into believing that he had purchased various investments for them by sending fraudulent Morningstar customer summaries and creating online customer accounts using Blueleaf, a web-based portal, that displayed fraudulent account balances. Additionally, Holt used misappropriated funds to make monthly payments to his customers that were intended to appear as interest or annuity payments. Holt, was at all relevant times, an attorney licensed to practice in the State of Minnesota. On August 18, 2014, the Supreme Court of the State of Minnesota issued an order disbarring Holt from the practice of law in the State of Minnesota based on his conviction for wire fraud.

Order

Bar (Permanent)

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

Indefinite

4/13/2017

participating in any offering of a penny stock

Indefinite

4/13/2017

Suspension

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

n/a

11/17/2016

FINRA

Respondent Holt failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Letter

Suspension

any capacity

N/A

2/2/2016

Pursuant to Article VI, Section 3 of FINRA By-Laws, and FINRA Rule 9554, Respondent Holt is suspended on February 2, 2016 for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

CLAIMANTS ALLEGE HOLT CONVERTED FUNDS FOR PERSONAL USE AND BREACH OF FIDUCIARY DUTY, GROSS NEGLIGENCE, AND VIOLATION OF STATE AND FEDERAL SECURITIES LAWS.

$100,000.00

$477,645.60

CLIENTS ALLEGE NEGLIGENCE, BREACH OF FIDUCIARY DUTY, CIVIL THEFT, CONVERSION, UNJUST ENRICHMENT, MONEY HAD AND RECEIVED, NEGLIGENT MISREPRESENTATION, VIOLATION OF STATE AND FEDERAL STATUTES.

$1,448,500.00

$497,189.18

Wire Fraud

Pled guilty

FINRA

RESPONDENT MARK DAVID HOLT FAILED TO RESPOND TO FINRA REQUEST FOR INFORMATION.

LETTER

Bar (Permanent)

All Capacities

Indefinite

4/21/2014

PURSUANT TO FINRA RULE 9552(H) AND IN ACCORDANCE WITH FINRA'S INTENT TO SUSPEND AND NOTICE OF SUSPENSION LETTERS DATED JANUARY 17, 2014 AND FEBRUARY 10, 2014, RESPECTIVELY, ON APRIL 21, 2014 HOLT IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY. RESPONDENT FAILED TO REQUEST TERMINATION OF HIS SUSPENSION WITHIN THREE MONTHS OF THE DATE OF THE NOTICE OF INTENT TO SUSPEND; THEREFORE, HE IS AUTOMATICALLY BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY.

STATE OF MINNESOTA COMMISSIONER OF COMMERCE

RESPONDENT IMPROPERLY HAD SEVERAL CLIENTS SIGN PARTIALLY COMPLETED OR BLANK ANNUITY FORMS, SOLD UNSUITABLE PRODUCTS TO 2 CLIENTS AND FAILED TO DELIVER 2 CLIENT CONTRACTS TIMELY,IN VIOLATION OF MINN STAT 45.027, SUBD 7(A)(4);60K.46, SUBD 4 & 72A.20 SUBD. 18(B)(2006) AND MINN RULE 2795.0400(2005)

Consent

Monetary/Fine

$5,000.00

RESPONDENT ORDERED TO PAY FINE OF $5000.00 BY CONSENT ORDER.

RESPONDENT ALWAYS DENIED SELLING UNSUITABLE PRODUCTS AND FAILING TO DELIVER CLIENT CONTRACTS.