UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 

Release No. 74607 / March 30, 2015

ADMINISTRATIVE PROCEEDING

File No. 3-15211

____________________________________

 :

In the Matter of :

 :

GREGG C. LORENZO, : NOTICE OF PROPOSED

FRANCIS V. LORENZO, AND : PLAN OF DISTRIBUTION

CHARLES VISTA, LLC, : AND OPPORTUNITY

: FOR COMMENT

Respondents. :

____________________________________:

Notice is hereby given, pursuant to Rule 1103 of the United States Securities and 

Exchange Commission’s (“Commission”) Rules on Fair Fund and Disgorgement Plans, 

17 C.F.R. § 201.1103, that the Division of Enforcement has submitted to the 

Commission a proposed plan (“Plan”) for the distribution of monies placed into a Fair 

Fund established in the above-captioned matter. 

On November 20, 2013, the Commission issued an Order Making Findings and 

Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Section 8A

of the Securities Act of 1933 and Sections 15(b), 21B, and 21C of the Securities 

Exchange Act of 1934 (the “Order”) as to Respondents Gregg C. Lorenzo 

(“Lorenzo”) and Charles Vista, LLC (“Charles Vista”) (collectively, “Respondents”) 

(Securities Act Rel. No. 9480 (November 20, 2013)). The Order found that

Respondents made fraudulent misrepresentations to several customers of Charles 

Vista, a broker-dealer controlled by Lorenzo, to induce them to invest in convertible 

debentures issued by a start-up waste management company, Waste2Energy 

Holdings, Inc. (“W2E”). The Order further found that Charles Vista had a 

considerable financial interest in the debentures offering and was the exclusive 

placement agent for the issuance of 12% W2E debentures. The debentures were 

convertible to W2E stock, which is a penny stock. Additionally, the Order found that 

W2E’s financial situation was precarious and W2E’s securities were extremely 

speculative because, among other reasons, the company had millions of dollars of 

debt that was senior to the debt W2E was issuing through the debentures offering. 

Finally, the Order found that after Respondents knowingly or recklessly made 

fraudulent misrepresentations to several Charles Vista customers, these customers 

invested in W2E debentures.

In the Order, Lorenzo and Charles Vista were jointly ordered to pay disgorgement 

of $130,000 and prejudgment interest of $20,000. In addition, Lorenzo was ordered to 

pay a civil penalty of $375,000 and Charles Vista was ordered to pay a civil penalty of 

$4,350,000. In accordance with the Order, Lorenzo has paid $130,000 in 
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disgorgement, $20,000 in prejudgment interest, and a civil penalty of $375,000. 

Charles Vista has not made any payments to date. Pursuant to the Order, a Fair Fund 

was created under Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended. 

The Fair Fund is comprised of the disgorgement, prejudgment interest and penalties paid 

and to be paid by Respondents for distribution to affected customers of Charles Vista

who suffered harm by virtue of the Respondents’ fraudulent misrepresentations 

(collectively, “Eligible Customers”). 

OPPORTUNITY FOR COMMENT

Pursuant to this Notice of Proposed Plan of Distribution and Opportunity for 

Comment (“Notice”), interested persons are advised that they may print a copy of the 

Plan from the Commission’s public website at 

http://www.sec.gov/litigation/fairfundlist.htm. Interested persons may also obtain a 

written copy of the Plan by submitting a written request to Nichola L. Timmons, Esq., 

United States Securities and Exchange Commission, 100 F Street, NE, Washington, 

DC 20549-5631. All persons who desire to comment on the Plan may submit their 

comments, in writing, no later than thirty (30) days from the date of this Notice:

1. To the Office of the Secretary, United States Securities and Exchange 

Commission, 100 F Street, NE, Washington, DC 20549-1090;

2. By using the Commission’s Internet comment form 

(http://www.sec.gov/litigation/admin.shtml); or

3. By sending an e-mail to rule-comments@sec.gov.

Comments submitted by e-mail or via the Commission’s website should include 

“Administrative Proceeding File Number 3-15211” in the subject line. Comments 

received will be publicly available. Thus, persons should submit only information 

that they wish to make publicly available.

THE DISTRIBUTION PLAN

The Fair Fund is comprised of the disgorgement, prejudgment interest, and 

civil penalties paid and to be paid by the Respondents. The “Net Fair Fund” is the 

Fair Fund, less any reserve for federal, state, or local taxes, fees or other expenses of 

administering the Plan. To date, Lorenzo has paid $130,000 in disgorgement, $20,000 

in prejudgment interest, and a civil penalty of $375,000. Charles Vista has not made 

any payments to date. Any outstanding payments received after approval of the Plan 

will be added to the Fair Fund and distributed in accordance with the Plan. The Plan 

proposes to distribute the Fair Fund to affected customers of Charles Vista who 

suffered harm by virtue of the conduct described in the Order and as calculated per 

the methodology set forth in the Plan.

The Plan provides for Eligible Customers to receive monies from the Fair 

Fund that represents their proportionate share of the Net Fair Fund. The Eligible 

Customers will not be required to make claims or submit documentation to establish 

their eligibility. The Plan provides that on the basis of information obtained by the 

Commission staff through review and analysis of applicable records, the Fund 
3

Administrator will identify the Eligible Customers. Within sixty (60) days of the 

Commission’s approval of the Plan, the Fund Administrator will send each Eligible 

Customer a notice regarding the Commission’s approval of the Plan and, including as 

appropriate, a statement characterizing the distribution, a link to the Plan posted on 

the Commission’s website and instructions for requesting a copy of the Plan, a Harm

Amount1calculation and a preliminary calculation of the Eligible Customer’s

distribution check amount (i.e., Fair Fund Payment), a description of the tax 

information reporting and other related tax matters, the procedure for the distribution 

as set forth in the Plan, and the name of the Fund Administrator to contact with 

questions regarding the distribution (the “Plan Notice”). The Fund Administrator will 

coordinate with the appointed Tax Administrator to request information from each 

Eligible Customer that is needed to accomplish the distribution in accordance with 

applicable tax requirements relating to the Fair Fund.

The Plan also provides procedures for Eligible Customers to dispute the 

amounts received. Disputes will be limited to calculations of an Eligible Customers’ 

Harm Amount. Should an Eligible Customer wish to dispute the amount received, an 

Eligible Customer must submit a written communication to the Fund Administrator. 

The Fund Administrator must receive the written communication detailing the dispute 

along with any supporting documentation within thirty (30) days of the date that an 

Eligible Customer’s disbursement is made. The Fund Administrator will investigate 

the dispute, and such investigation will include a review of the written dispute as well 

as any supporting documentation. Within thirty (30) days of receipt of the written 

dispute, the Fund Administrator will notify the Eligible Customer of her resolution of 

the dispute, which shall be final. 

For the Commission, by its Secretary, pursuant to delegated authority.

Brent J. Fields

Secretary

 1 Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Plan.