UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 

Release No. 78173 / June 28, 2016

ADMINISTRATIVE PROCEEDING

File No. 3-15429

____________________________________

:

In the Matter of :

:

North East Capital, LLC : ORDER DIRECTING

and Anthony T. Vicidomine, : DISBURSEMENT OF FAIR 

: FUND

:

Respondents. :

____________________________________:

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

Distribution and Opportunity for Comment1(“Notice”) pursuant to Rule 1103 of the 

Commission’s Rules on Fair Fund and Disgorgement Plans. The Notice advised interested 

persons that they could obtain a copy of the proposed Plan of Distribution (“Plan”) from the 

Commission’s public website at http://www.sec.gov/litigation/fairfundlist.htm or by submitting a 

written request to Nancy Chase Burton, Esq., United States Securities and Exchange 

Commission, 100 F Street, NE, Washington, DC 20549-5631. 

Two comments were submitted, one from Eiszel Lee on December 29, 2014 and one 

from Annette DeLorenzo (“DeLorenzo”) on February 10, 2015. Only DeLorenzo’s comment 

concerned the inclusion of additional recipients in the distribution plan. 

 

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

The staff revised the Plan to include DeLorenzo as an additional distributee (“Proposed 

Amended Plan of Distribution”). The Proposed Amended Plan of Distribution provided for the 

distribution of the disgorgement, prejudgment interest, additional interest, and civil penalties 

paid by Respondents, less any reserve for taxes, fees, or other expenses of administering the 

Amended Plan of Distribution (“Net Fair Fund”) to eligible investors according to the 

methodology set forth in the Proposed Amended Plan of Distribution.

On April 26, 2016, the Commission published a Notice of Proposed Amended Plan of 

Distribution and Opportunity for Comment2pursuant to Rule 1103 of the Commission’s Rules 

on Fair Fund and Disgorgement Plans. The Commission received no comments on the Proposed 

Amended Plan of Distribution.

On June 17, 2016, the Commission issued an Order Approving Amended Plan of 

Distribution.3

The Fair Fund is comprised of $346,671.45 with the Net Fair Fund being $340,870. As 

set forth in paragraph 5, the Amended Plan of Distribution seeks to distribute the Net Fair Fund 

to certain investors identified by Commission staff during its investigation who were harmed by 

Respondents’ misappropriation of the unearned “incentive fees” described in the Order. 4The 

methodology for calculating an eligible investors’ estimated net distribution amounts is set forth 

in paragraph 7 of the Amended Plan of Distribution.

The Fund Administrator, Nancy Chase Burton, Supervisory Assistant Chief Litigation 

Counsel in the Commission’s Division of Enforcement’s Office of Distributions, represents that 

 

2 Exchange Act Rel. No. 77712 (Apr. 26, 2016).

3 Exchange Act Rel. No. 78100 (June 17, 2016).

4

 See 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-and-Desist Order (Securities Act Rel. No. 9442 (August 16, 2013)).
3

a verified payment file has been prepared pursuant to the Amended Plan of Distribution, with a 

list of payees and the amount to be paid to each person, with $340,870 being the total amount to 

be disbursed. Commission staff have reviewed the payment file and request that, pursuant to 

Rule 1101(b)(6) of the Commission’s Rules on Fair Fund and Disgorgement Plans,5the 

Commission direct the payment of $340,870 from the Fair Fund for distribution by the Fund 

Administrator according to the Amended Plan of Distribution. Any remaining monies in the Fair 

Fund will be transferred to the U.S. Treasury after a final accounting is approved by the 

Commission, pursuant to paragraph 15 of the Amended Plan of Distribution.

Accordingly, it is ORDERED that the Commission staff direct the payment of $340,870 

from the Fair Fund to be distributed to injured investors pursuant to the Amended Plan of 

Distribution. 

By the Commission.

Brent J. Fields

Secretary

 

5

17 C.F.R. § 201.1101(b)(6).