The allegations read: The securities and exchange commission deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against john j. Woods. In anticipation of the institution of these proceedings, respondent has submitted an offer of settlement (the "offer") which the commission has determined to accept. The commission finds that woods directly or indirectly owned a majority interest in, and had the right to control of the operations of, livingston group asset management company d/b/a southport capital ("southport capital"). Woods also served as the president of southport capital, which was an investment adviser registered with the commission, from in or about february 2017 through in or about august 2021. Woods has also been a registered representative associated with a broker-dealer registered with the commission. Woods, 58 years old, is a resident of marietta, georgia. On march 8, 2023, a judgment was entered by consent against woods, permanently enjoining him from future violations of section 17(a) of the securities act of 1933, section 10(b) of the exchange act and rule 10b-5 thereunder, and sections 206(1) and 206(2) of the advisers act, in civil action number 1:21-cv-03413, in the united states district court for the northern district of georgia. The commission's complaint alleged that woods, in connection with the sale of interest in horizon private equity, iii, llc, made false statements to investors, misused and misappropriated investor funds, and otherwise engaged in conduct which operated as a fraud and deceit on investors.
