UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 90836 / December 31, 2020

ADMINISTRATIVE PROCEEDING

File No. 3-16753

In the Matter of

 SIGNATOR INVESTORS, INC. 

 and 

 GREGORY J. MITCHELL, 

Respondents.

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NOTICE OF PROPOSED PLAN OF 

DISTRIBUTION AND 

OPPORTUNITY FOR COMMENT

ADMINISTRATIVE PROCEEDING 

File No. 3-16754

In the Matter of

 CORY D. WILLIAMS

Respondent.

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Notice is hereby given, pursuant to Rule 1103 of the United State 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 “Plan”) for the distribution of monies 

paid in the above-captioned matters, and monies recovered by the Commission in a related 

federal district court civil action.

On August 13, 2015, the Commission instituted and simultaneously settled administrative 

proceedings against Signator Investors, Inc. (“Signator”) and Gregory J. Mitchell (“Mitchell”),1

 

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 See Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 

1934 and Sections 203(e) and 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing 

Remedial Sanctions, Exchange Act Rel. No. 75690 (Aug. 13, 2015) (the “Signator and Mitchell Order”).
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and against Cory D. Williams (“Williams”)2(collectively, the “Orders”). As a result of the 

conduct described in the Orders, the Commission ordered Signator to pay a civil penalty of 

$450,000; Mitchell to pay a civil penalty of $15,000, and Williams to pay disgorgement of 

$94,191, prejudgment interest of $9,854 and a civil penalty of $94,191 to the Commission. 

Signator and Mitchell have paid the amounts ordered by the Commission ($465,000). 

Williams has defaulted on his payment.

The Signator and Mitchell Order created a fair fund, pursuant to Section 308(a) of the 

Sarbanes-Oxley Act of 2002, so the penalties, along with the disgorgement and prejudgment 

interest, collected can be distributed to harmed investors (the “Fair Fund”), and further provides 

that the Fair Fund, may accept funds paid in a related or federal court action or administrative 

proceeding arising out of the same underlying facts.

On August 13, 2015, the Commission also filed a related civil action (the “Civil Action”) 

in the District Court of Maryland against Colonial Tidewater Realty Income Partners, LLC 

(“CTRIP”), James R. Glover (“Glover”) and Sherman T. Hill (“Hill”).3 On August 20, 2015, the 

Court entered Final Judgments against CTRIP, Glover and Hill, ordering: CTRIP to pay 

$1,319,386 (disgorgement of $527,844, prejudgment interest of $66,542, and a civil penalty of 

$725,000); Glover to pay $1,354,105 (disgorgement of $839,128, prejudgment interest of 

$64,977, and a civil penalty of $450,000); and Hill to pay a civil penalty of $75,000. 

The Commission has recovered a total of $534,735.15 from the Civil Action, which has 

been added to Fair Fund.4 

The Fair Fund consists of the $465,000 paid by Signator and Mitchell, together with the 

$534,735.15 recovered from the Civil Action for a total of $999,735.13. Any additional funds 

collected from the Civil Action or received from Williams will be added to the Fair Fund for 

distribution to investors, pursuant to the Plan. The Fair Fund is currently deposited in an 

interest-bearing account at the United States Department of the Treasury’s Bureau of Fiscal 

Service, and all interest accrued will be added to the Fair Fund.

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

Commission. The Plan is subject to approval by the Commission, and the Commission retains 

jurisdiction over its implementation. 

 

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 See Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 15(b) 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, Exchange Act Rel. No. 75691 (Aug. 13, 2015).

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SEC v. Colonial Tidewater Realty Income Partners, LLC, et al.,Civ. Act. No. 1:15-cv-02401-ELH (D. Md., Aug. 

13, 2015).

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 The Court ordered any funds recovered in the Civil Action to be paid to the Commission and distributed, with the 

funds collected pursuant to the Orders, in accordance with a distribution plan to be approved by the Commission in 

the Administrative Proceedings. Id. at Dkt. Nos. 148 and 161.
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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 Plan by submitting a written request to 

Noel Gittens, United States Securities and Exchange Commission, 100 F Street, NE, 

Washington, DC 20549-5876. 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 email or via the Commission’s website should include “Administrative 

Proceeding File Nos. 3-16753 and 3-16754” in the subject line. Comments received will be 

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

available.

THE PLAN

The Net Available Fair Fund5is comprised of the $999,735.13, along with any additional 

funds received pursuant to the Orders or recovered in the Civil Action, plus interest and income 

earned thereon, minus all taxes, fees, and other expenses of distributing the Net Available Fair 

Fund to investors who were harmed by the conduct described in the Orders. The distribution 

will be made to those Eligible Investors who suffered harm as calculated by the methodology 

used in the Plan.

By the Commission.

Vanessa A. Countryman

Secretary 

 

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