On the basis of this Order and Respondent’s Offer, the Commission finds that
1. From September 2008 to January 2009, Rawitt offered for sale and sold securities without a having a securities license or being associated with a registered broker or dealer. Rawitt, 42 years old, is a resident of Marina Del Rey, California.
2. On July 15, 2010, an agreed judgment was entered by consent against Rawitt, permanently enjoining him from future violations of Sections 5(a) and 5(c) of the Securities Act of 1933, and Section 15(a) of the Exchange Act, in the civil action entitled Securities and Exchange Commission v. Rockwell Energy of Texas, LLC, et al., Civil Action Number 4:09-cv-4080, in the United States District Court for the Southern District of Texas.
3. The Commission’s Complaint alleged that Rawitt sold limited partnership interests in a fraudulent and unregistered oil-and-gas offering based in Texas. According to the complaint, Rawitt received, directly or indirectly, sales or other promotional commissions as high as 40%, and pocketed $275,000 in investor proceeds. The Complaint alleges he solicited investors through cold calls, and was neither licensed nor associated with a registered broker or dealer.
In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions agreed to in Respondent’s Offer.
Accordingly, it is hereby ORDERED:
Pursuant to Section 15(b)(6) of the Exchange Act, that Respondent Rawitt be, and hereby is barred from association with any broker or dealer.
Any reapplication for association by the Respondent will be subject to the applicable laws and regulations governing the reentry process, and reentry may be conditioned upon a number of factors, including, but not limited to, the satisfaction of any or all of the following: (a) any disgorgement ordered against the Respondent, whether or not the Commission has fully or partially waived payment of such disgorgement; (b) any arbitration award related to the conduct that served as the basis for the Commission order; (c) any self-regulatory organization arbitration award to a customer, whether or not related to the conduct that served as the basis for the Commission order; and (d) any restitution order by a self-regulatory organization, whether or not related to the conduct that served as the basis for the Commission order.