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Edward Daspin, 78, agreed to settle SEC charges that they participated in the fraudulent offerings of the securities of Worldwide Mixed Martial Arts Sports (“WMMA”) and an affiliate, WMMA Distribution.  Both were start-up companies that allegedly were formed to establish an international league of mixed martial arts tournaments that would generate digital content and sell branded products. Daspin claimed the companies had an email and telephone marketing database - purportedly run by International Marketing Corporations - that contained 840 million email addresses

For 2-1/2 years, starting in December 2010, WMMA and WMMA Distribution raised a total of $2.5 million from 7 investors, of which at least $2 million was raised fraudulently. Daspin orchestrated the fraud by targeted unemployed professionals whom he lured in with offers of executive-level positions at the Companies. After arriving for a “job interview,” prospects were told they would be required to make a substantial investment as a condition of obtaining employment and receiving a salary.

Daspin made numerous false representations during these interviews regarding the financial condition of the Companies, including that they were well-funded when, in fact, they were in fact barely surviving from one investment to the next. He also falsely represented that everyone working at the Companies was an investor and had “skin in the game.” He also used an alias and made sure that prospective investors did not learn his true identity until they were on the verge of making an investment, to delay disclosure of his prior bankruptcy fraud conviction and decrease the likelihood they would learn of his recent failed business ventures before investing.

Respondent Daspin agreed to pay $25,000 in disgorgement, prejudgment interest and penalties