SEC Administrative Proceeding: Fair Fund Distribution Order

SEC Administrative Proceedings

Filed March 26th, 2026

Detected March 27th, 2026

Summary

The SEC has ordered the transfer of $72,268.46 from a Fair Fund to its escrow account for distribution to harmed investors. This follows a proposed plan of distribution for which no comments were received, and a subsequent approval of the plan. The fund administrator will now distribute the funds according to the approved plan.

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What changed

The Securities and Exchange Commission (SEC) has issued an order directing the disbursement of $72,268.46 from a Fair Fund established in an administrative proceeding (File No. 3-21295) against Centaurus Financial, Inc., Ricky A. Mantel, and Atul Makharia. This order authorizes the transfer of these funds from the Fair Fund to its escrow account at Huntington National Bank. The distribution will be managed by the Fund Administrator in accordance with an approved Plan of Distribution.

This action finalizes the distribution process after a proposed plan was published on April 16, 2024, and no comments were received during the 30-day comment period. The SEC staff has reviewed and accepted the payment file submitted by the Fund Administrator. Compliance officers should note that the Certification Deadline Date has passed, and all Final Determination Notices have been issued. The primary action required is the Fund Administrator's distribution of the funds to eligible investors as outlined in the Plan.

What to do next

Fund Administrator to distribute $72,268.46 to eligible investors per the approved Plan.

Source document (simplified)

UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 105092 / March 26, 2026 ADMINISTRATIVE PROCEEDING File No. 3-21295 In the Matter of ORDER DIRECTING DISBURSEMENT OF FAIR FUND Centaurus Financial, Inc., Ricky A. Mantel, and Atul Makharia, Respondents. On April 16, 2024, the Division of Enforcement, pursuant to delegated authority, published a Notice of Proposed Plan of Distribution and Opportunity for Comment (“Notice”), 1 pursuant to Rule 1103 of the Commission’s Rules on Fair Fund and Disgorgement Plans (“Commission’s Rules”); and simultaneously posted the Proposed Plan of Distribution (the 2 “Proposed Plan”). The Notice advised interested persons that they could obtain a copy of the Proposed Plan from the Commission’s public website or by submitting a written request to Devon Brown, United States Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-5876. The Notice also advised that all persons desiring to comment on the Proposed Plan could submit their comments, in writing, within 30 days of the Notice. The Commission received no comments on the Proposed Plan during the comment period. On June

: Exchange Act Rel. No. 99966 (Apr. 16, 2024). 1: 17 C.F.R. § 201.1103. 2: : : : :

PRIVILEGED AND CONFIDENTIAL 17, 2024, the Division of Enforcement, pursuant to delegated authority, issued an order approving the Proposed Plan, and posted the approved Plan of Distribution (the “Plan”). 3 The Plan provides for the distribution of the Fair Fund, plus accumulated interest, less taxes, fees, and expenses, to the harmed investors according to the methodology set forth in the Plan. In accordance with the Plan, the Certification Deadline Date has passed and all Final Determination Notices have been mailed and responses received have been timely processed by the Fund Administrator. Pursuant to the Plan, the Fund Administrator has submitted a payment file to Commission staff with a reasonable assurances letter as to the completeness and accuracy of the information contained therein. The Commission staff has reviewed and accepted the payment file and requests, pursuant to Rule 1101(b)(6) of the Commission’s Rules, 17 C.F.R. § 201.1101(b)(6), that the Commission authorize the transfer of $72,268.46 from the Fair Fund to the Fair Fund’s escrow account at Huntington National Bank for distribution by the Fund Administrator in accordance with the Plan. Accordingly, it is hereby ORDERED, that Commission staff shall transfer $72,268.46 from the Fair Fund to the Fair Fund’s escrow account at Huntington National Bank, and the Fund Administrator shall distribute such monies to eligible investors in accordance with the Plan. For the Commission, by the Division of Enforcement, pursuant to delegated authority. 4 Vanessa A. Countryman Secretary

See Corrected Order Approving Plan, Exchange Act Rel. No. 100360 (June 17, 2024). 3 17 C.F.R. § 200.30-4(a)(21)(v). 4