Litigation Releases (Anthony J. Mastroianni, Jr.)

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26396 / September, 11, 2025

Securities and Exchange Commission v. Anthony J. Mastroianni, Jr. and Global Business Development and Consulting Corp., No. 3:22-cv-05080 (D.N.J. filed Aug. 17, 2022)

SEC Obtains Final Judgment Against Former Broker Who Targeted Senior Citizens in an Offering Fraud

On September 10, 2025, the Securities and Exchange Commission obtained a judgment against New Jersey resident Anthony J. Mastroianni, Jr., a barred broker whom the SEC previously charged in connection with a $1.2 million fraudulent promissory note scheme targeting older Americans.

According to the SEC's complaint, filed in August 2022, from at least February 2017 to May 2022 Mastroianni induced investors, ranging in age from 64 to 82, to purchase notes issued by his company, Global Business Development and Consulting Corp., by promising exorbitant interest rates ranging from 50% to 175%. As alleged, Mastroianni gave investors conflicting explanations of the nature of Global's business and often convinced them to roll-over their notes into new notes combining unpaid amounts with new investments. However, Global did not use investor monies to generate income but instead, as alleged, Mastroianni withdrew investor money from Global's bank account and used ill-gotten funds for personal expenses on luxury items.

In a parallel criminal proceeding, United States v. Mastroianni, Crim. No. 23-717 (D.N.J.), on February 8, 2024, Mastroianni was sentenced to 45 months in prison followed by 3 years of supervised release for the $1.2 million investment fraud and for fraudulently obtaining a loan of approximately $96,000 meant for small businesses during the COVID-19 pandemic. Mastroianni was also ordered to pay restitution and forfeiture of $1.3 million. In light of Mastroianni's sentence, restitution, and forfeiture in the parallel proceeding, on September 8, 2025, the SEC advised the Court that it does not intend to pursue its remaining monetary relief against Mastroianni.

Mastroianni consented to entry of a final judgment permanently enjoining him from conduct violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Section 17(a) of the Securities Act of 1933. This judgment concludes the SEC's litigation in this matter.

The SEC's litigation was led by Christopher Dunnigan and Adam S. Grace, and was supervised by Sheldon L. Pollock and Jack Kaufman, all of the SEC's New York Regional Office.