UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 

Release No. 74808 / April 24, 2015

ADMINISTRATIVE PROCEEDING

File No. 3-15429

____________________________________

:

In the Matter of :

:

North East Capital, LLC : EXTENSION ORDER 

and Anthony T. Vicidomine, :

:

:

Respondents. :

____________________________________:

The Division of Enforcement (“Division”) has requested an extension of time until 

August 28, 2015 for entry of an order approving or disapproving the proposed plan of 

distribution (“Plan”) that was noticed for public comment on December 23, 2014.

On August 16, 2013, the Securities and Exchange Commission (“Commission”) issued

an Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A 

of the Securities Act of 1933, Section 21C of the Securities Exchange Act of 1934, Sections 

203(f) and 203(k) of the Investment Advisers Act of 1940, and Section 9(b) of the Investment 

Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-andDesist Order (“Order”) against North East Capital, LLC and Anthony T. Vicidomine 

(collectively, “Respondents”).

1

 The Order found that Vicidomine was the founder and sole 

principal of North East Capital, LLC, an unregistered investment adviser and general partner 

of the North East Capital Fund LP. The Order further found, among other things, that from 

November 2011 through March 2012, Vicidomine misappropriated $189,415 of the North 

East Fund’s assets in the form of unearned “incentive fees.” Respondents were ordered to 

pay, jointly and severally, disgorgement of $189,415, prejudgment interest of $6,717.04, and a 

civil money penalty of $150,000, and have paid $345,911 to the Commission. 

The Order created a Fair Fund pursuant to Section 308(a) of the Sarbanes-Oxley Act 

of 2002, as amended, for the funds paid by the Respondents. The Fair Fund is subject to the 

continuing jurisdiction and control of the Commission and the Fair Fund has been deposited in 

an account at the United States Department of Treasury. 

 

1

Securities Act Rel. No. 9442 (Aug. 16, 2013).
2

On December 23, 2014, the Commission published a Notice of Proposed Plan of 

Distribution and Opportunity for Comment2(“Notice”) pursuant to Rule 1103 of the 

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

3

 The Notice advised 

that all persons desiring to comment on the Plan could submit their comments, in writing, no 

later than thirty (30) days from the date of the Notice. The Commission received two 

comments on the Plan, one of which was received after the comment deadline. On February 

24, 2015, the Commission issued an order extending the time to issue an order approving or 

disapproving the Plan to April 23, 2015.4

In its request for an extension of time, the Division states that it has requested and is 

waiting to receive documents from an investor to evaluate whether that investor should be 

included in the distribution. The Division has been communicating directly with the investor 

on a routine basis to gather information and further evaluate the merits of the investor’s claim. 

Further evaluation, analysis and consultation with other offices are also required to properly 

address the comments. Consequently, the Division requests that the Commission extend the 

time to issue an order approving or disapproving the Plan to August 28, 2015.

Accordingly, for good cause shown, it is hereby ORDERED, pursuant to Rule 1104 of 

the Commission’s Rules on Fair Fund and Disgorgement Plans,5that the time for entering an 

order approving or disapproving the Plan is extended to August 28, 2015.

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

Brent J. Fields

Secretary

 

2 Exchange Act Rel. No. 73921 (Dec. 23, 2014).

3

17 C.F.R. § 201.1103.

4 Exchange Act Rel. No. 74355 (Feb. 24, 2015).

5

17 C.F.R. § 201.1104.