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# Other

# In the Matter of Scott Eugene Bachman Admin. Proc. File No. 3-20089

                            Aug. 22, 2022                       

On September 28, 2020, the Commission instituted and simultaneously settled administrative and cease-and-desist proceedings (the “Order”) against Scott Eugene Bachman (the “Bachman” or the “Respondent”). In the Order, the Commission found that, between August and December 2017, Bachman violated the broker-dealer and securities registration provisions of the federal securities laws in connection with the sale of securities related to an oil and gas drilling project known as “Woodland-OP1 Oddfellows A-1.” The Commission ordered the Respondent to pay a civil money penalty of $8,832 to the Commission. The Commission also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalty paid can be distributed to harmed investors (the “Fair Fund”). See the Commission’s Order: Release No. 33-10857. 

The Fair Fund includes the $8,832.00 paid by the Respondent. The Fair Fund has been deposited in an interest-bearing account at the U.S. Department of Treasury’s Bureau of the Fiscal Service, and any accrued interest will be added to the Fair Fund. 

On October 14, 2021, the Commission issued an order appointing Miller Kaplan Arase LLP, as the Tax Administrator of the Fair Fund. See the Commission’s Order: Release No. 34-93315. 

On December 29, 2021, the Commission published a notice of the proposed plan of distribution and opportunity for comment and simultaneously published the proposed plan of distribution (“Proposed Plan”). The Proposed Plan provides that the distribution of the Fair Fund shall be made to those investors who suffered a recognized loss in connection with the purchase of securities related to the Oddfellows Project between August and December 2017. The Proposed Plan proposes that David H. London, a Commission employee, serve as the Fund Administrator to oversee the administration and distribution of the Fair Fund. The notice provides the public with 30 days to submit their comments on the Proposed Plan. See the Commission’s Notice: Release No. 34-93874 and the Proposed Plan.

On February 28, 2022, the Commission issued an order approving the Proposed Plan and simultaneously posted the approved Plan of Distribution (the “Plan”). *See* the Commission’s Order: Release No. 34-94326 and the approved Plan. 

On May 18, 2023, the Commission issued an order approving the disbursement of $9,006.82 from the Fair Fund for distribution to eligible investors.  See the Commission’s Order: Release No. 34-97522.

For more information, please contact the Fund Administrator:

Office of DistributionsAllison J.P. MoonTelephone Number: (202) 551-3015

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