UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 

Release No. 94758 / April 19, 2022

ADMINISTRATIVE PROCEEDING

File No. 3-19991

In the Matter of

William D. King, CPA,

Respondent.

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NOTICE OF PROPOSED PLAN OF 

DISTRIBUTION AND 

OPPORTUNITY FOR COMMENT

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 

(“Commission’s Rules”), 17 C.F.R. § 201.1103, that the Division of Enforcement has submitted 

to the Commission a proposed plan of distribution (the “Proposed Plan”) for the distribution of 

monies paid in the above-captioned matter.

On September 11, 2020, the Commission issued an Order Instituting Administrative and 

Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 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 (the “Order”)1against William D. King, CPA (the 

“Respondent”). In the Order, the Commission found that from August 2015 through September 

2018, King solicited clients to invest in a penny stock issuer, American Rebel Holdings, Inc. 

(“AREB”). King did not disclose that he received $72,250 in AREB shares as a commission for 

soliciting sales nor that he retained $447,384 in AREB shares as fees. The Commission also 

found that King operated as a broker-dealer through his solicitation of investors and other 

activities without registering to do so. The Commission ordered the Respondent to pay 

$519,634.00 in disgorgement, $33,388.13 in prejudgment interest, and a $75,000.00 civil money 

penalty, for a total of $628,022.13, 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, along 

with the disgorgement and interest paid, can be distributed to harmed investors (the “Fair Fund”).

The Fair Fund includes the $628,022.13 paid by the Respondent. The assets of the Fair 

Fund are subject to the continuing jurisdiction and control of the Commission. The Fair Fund 

 

1

 Exchange Act Rel. No. 89848 (Sept. 11, 2020).
2

and has been deposited in an interest-bearing account at the U.S. Department of the Treasury’s 

Bureau of the Fiscal Service, and any interest accrued will be added to the Fair Fund.

OPPORTUNITY FOR COMMENT

Pursuant to this Notice, all interested persons are advised that they may obtain 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 Proposed Plan by submitting a written 

request to Amy A. Sumner, United States Securities and Exchange Commission, Byron Rogers 

Federal Office Building, 1961 Stout Street, Suite 1700, Denver, CO 80294-1961. All persons 

who desire to comment on the Proposed 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 email or via the Commission’s website should include “Administrative 

Proceeding File No. 3-19991” in the subject line. Comments received will be publicly available. 

Persons should submit only information they wish to make publicly available.

THE PROPOSED PLAN

The Net Available Fair Fund2is comprised of the $628,022.13 in disgorgement, 

prejudgment interest, and civil money penalties paid by the Respondent, plus interest and income 

earned thereon, less taxes, fees, and expenses. The Proposed Plan provides for the distribution of 

the Net Available Fair Fund to investors who suffered a Recognized Loss as calculated by the 

methodology used in the Plan of Allocation in the Plan.

For the Commission, by the Division of Enforcement, pursuant to delegated authority.3

Vanessa A. Countryman

Secretary 

 

2

 All capitalized terms used herein but not defined shall have the same meanings ascribed to them in the Proposed 

Plan.

3

 17 C.F.R. § 200.30-4(a)(21)(iii).