Litigation Releases (Alyssa D'Urso, Antonella Chiaramonte, Daniel Wellcome, Jay Garnock, and Michael D'Urso)

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26682 / November 2, 2026

Securities and Exchange Commission v. Robert Lenard Booth, Michael D'Urso, Daniel T. Wellcome Jr., Alyssa D'Urso, Antonella Chiaramonte, and Jay Garnock, No. 22-civ-01115 (S.D.N.Y. filed Feb. 9, 2022)

SEC Obtains Final Judgments Against U.S. Citizens in Connection with Overseas Boiler Room Schemes

On October 9, 2026, the U.S. District Court for the Southern District of New York entered a final judgment as to Daniel T. Wellcome Jr. in connection with the SEC's filed civil enforcement action. Previously, on May 30, 2025, the SEC voluntarily dismissed charges against Robert Lenard Booth, who had died, and on June 5, 2025, the Court entered final judgments as to Michael D'Urso, Alyssa D'Urso, Antonella Chiaramonte, and Jay Garnock (collectively with Wellcome and Booth, the "Defendants").

The SEC's complaint, filed on February 9, 2022, alleged that through the use of overseas boiler rooms in 2019 and 2020, the Defendants defrauded investors by selling them fake investments that purportedly traded on U.S. exchanges. According to the complaint, Wellcome acted as the intermediary between the boiler rooms and Michael D'Urso, who used his daughter, Alyssa D'Urso, Chiaramonte, and Garnock as nominees to open and manage bank accounts for fake companies he had created to receive the money. When investor money was received into the accounts, D'Urso allegedly skimmed a portion of the victims' funds for the Defendants before wiring the rest back to the overseas boiler rooms.

The SEC's complaint charged Booth, Michael D'Urso, and Wellcome with violating the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and charged Alyssa D'Urso, Chiaramonte, and Garnock with violating and aiding and abetting Booth, Michael D'Urso, and Wellcome's violations of those provisions. It also charged Booth with violating the broker registration provisions of Section 15(a) of the Exchange Act, and charged Michael D'Urso and Wellcome with aiding and abetting Booth's registration violations.

The final judgment against Wellcome ordered him liable for disgorgement of $267,404 and prejudgment interest of $6,090.92, which amounts were deemed satisfied by the restitution order entered against Wellcome in the parallel criminal action, United States v. Daniel Wellcome, No. 1:22-cr-00196-PKC (S.D.N.Y.). On April 1, 2022, the Court entered a consent judgment as to Wellcome, which enjoined him from future violations of the charged provisions and imposed a conduct-based injunction. The final judgments against Michael D'Urso, Alyssa D'Urso, Chiaramonte, and Garnock, enjoined them from future violations of the charged provisions, imposed conduct-based injunctions, and ordered each of these defendants to pay disgorgement with prejudgment interest in amounts that were deemed satisfied by the entry of the restitution orders in the related criminal action, United States v. Robert Lenard Booth, et al., No. 1:21-cr-00652 (S.D.N.Y.).

The SEC's litigation, which is now concluded, was handled by Melissa Armstrong.