UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 

Release No. 75059 / May 28, 2015

ADMINISTRATIVE PROCEEDING

File No. 3-15211

____________________________________

:

In the Matter of :

:

GREGG C. LORENZO, : EXTENSION ORDER 

FRANCIS V. LORENZO, AND :

CHARLES VISTA, LLC, :

:

Respondents. :

____________________________________:

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

November 30, 2015 for entry of an order approving or disapproving the proposed plan of 

distribution (“Plan”) that was noticed for public comment on March 30, 2015.

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 disgorgement, $20,000 in 

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

On March 30, 2015, 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 (“Rules”).

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 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 three 

comments on the Plan, two of which were received after the comment deadline. 

In its request for an extension of time, the Division states that additional time is needed 

for further evaluation, analysis, and consultation with other offices to properly address the 

comments. The Division now requests that the Commission extend the time to issue an order 

approving or disapproving the Plan to November 30, 2015.

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

1104 of the Commission’s Rules on Fair Fund and Disgorgement Plans,

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the time for entering 

an order approving or disapproving the Plan is extended to November 30, 2015.

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

Brent J. Fields

Secretary

 

1 Exchange Act Rel. No. 74607 (Mar. 30, 2015).

2

17 C.F.R. § 201.1103.

3

17 C.F.R. § 201.1104.