Press Releases
Administrative Orders Issued
Weekly Securities Filings
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2003 Administrative Orders Issued
(Securities)
Signed copies of Petitions for Order and Orders associated
with the following persons or entities are available in the PDF format.
Yaw Asamoahduodu, West Orange, NJ. File No. S-03289(LX).
A Summary Order of Denial of Securities Agent Application was issued based
on failure to complete the application submitted on June 9, 2003.
Order Issued: December 26, 2003
Daniel P. Matty, Henderson, NV. File No. S-03288(LX).
A Summary Order of Denial of Securities Agent Application was issued based
on failure to complete the application submitted on June 12, 2003.
Order Issued: December 26, 2003
Rock J. Eiden, Eau Claire, WI. File No. S-01134(LX).
A Consent Order of Prohibition, Censure, and Assessment ($2,500) was issued,
based on allegations of borrowing money from customers, making a false
filing with the Division, and failing to report an ongoing investigation
to the NASD.
Order Issued: December 23, 2003
B & B Worm Farms, Inc., Gregory Miles Bradley, Lynn M. Bradley,
James Kent Busch, David James Desormeau, Jose Alfred Jiminez aka Joe Alfred,
Lawrence Lee “Larry” Bateman, Sr., Meeker, OK; South
San Francisco, CA, Henderson and Las Vegas, NV. File No. S-03072(EX).
Orders of Prohibition and Revocation of Exemptions were issued based on
allegations of fraud in the offer and sale of unregistered investment
contracts by unlicensed agents.
Order Issued: December 2, 2003
Scott Kinderman, Eau Claire and Chippewa Falls, WI.
File No. S-03089(LX). A Consent Order of Censure was issued, based on
the allegation of making an unsuitable recommendation.
Order Issued: December 2, 2003
Charles R. VanderLinden, Appleton, WI. File No. S-03257(LX).
Summary Order of Denial of Securities Agent Application was issued based
on failure to complete the application submitted on April 24, 2003.
Order Issued: November 21, 2003
Digital Information and Voice Access, Inc., Ptak Financial Planning
Group, Inc., Joe Harold Glover, and Paul O. Ptak, Dallas, Austin,
and Carrollton, TX. File No. S-03126(EX). Summary Orders of Prohibition
and Revocation were issued based on allegations of the offer and sale
of unregistered securities by an unlicensed broker-dealer and agent.
Orders Issued: November 11, 2003
Fountain Capital Management LLC, Donald R. Abernathy, David A.
Fazio, and Richard Fandrich, Phoenix, AZ. File No. S-03188(EX).
Orders of Prohibition and Revocation were issued based on allegations
of fraud in the offer and sale of unregistered securities by an unlicensed
broker-dealer and agent.
Orders Issued: November 07, 2003
Roger E. Schmidt, Wauwatosa, WI. File No. S-03008(LX).
A Consent Order of Censure was issued based on allegations of lending
money to a customer.
Order Issued: November 07, 2003
Cashier, Inc. and Tom Graves, Belleville, Ontario. S-03132(EX)
Summary Orders of Prohibition and Revocation were issued based on allegations
of the offer and sale of unregistered securities by an unlicensed broker-dealer
and agent.
Orders Issued: November 07, 2003
Nustart Nutritional, Inc. and Rick Johnson, Lake Oswego,
OR. File No. S-03117(EX). Summary Orders of Prohibition and Revocation
were issued based on allegations of the offer and sale of unregistered
securities.
Orders Issued: November 07, 2003
Mark L. Pedersen, St. Louis Park, MN. File No. S-03251(LX).
Summary Order of Denial of Securities Agent Application was issued based
on failure to complete the application submitted on April 9, 2003.
Order Issued: November 07, 2003
Lisa K. McGibbon, Toronto, Ontario, Canada. File No.
S-03250(LX). Summary Order of Denial of Securities Agent Application was
issued based on failure to complete the application submitted on April
9, 2003.
Order Issued: November 07, 2003
GunnAllen Financial, Inc., Tampa, FL. File No. S-03249(LX).
The Broker-Dealer License Suspension of 11/4/03 was lifted effective at
the close of business on 11/6/03, following a meeting with the firm’s
Compliance Director.
Order Issued: November 06, 2003
GunnAllen Financial, Inc., Errol Vaughn Wilson, Brett A. Kantor,
and Pierre J. Carrenard, Tampa, FL. File No. S-03249(LX). A Summary
Order of Suspension (of Broker-Dealer License) was issued against the
firm, and Summary Orders of Prohibition were issued against the individuals
based on allegations of failure to supervise, and unethical and unlicensed
agent activity.
Orders Issued: November 04, 2003
Indianapolis Securities, Inc., Valley Stream, NY. File
No. S-03214(LX). A Summary Order of Revocation of Broker-Dealer License
was issued based on allegations of offers and sales of unregistered securities
by unlicensed agents, unethical business practices, fraud, and ceasing
to do business as a broker-dealer. Issued 10/24/03
Citigroup Global Markets, New York, NY. File No. S-03107(LX).
An Administrative Consent Order was issued as part of the national of
research analyst conflicts of interest settlements. The firm paid a civil
monetary penalty of $2,479,663 to the State of Wisconsin. Issued 10/24/03
Lehman Brothers Inc., New York, NY. File No. S-03103(LX).
An Administrative Consent Order was issued as part of the national of
research analyst conflicts of interest settlements. The firm paid a civil
monetary penalty of $413,277 to the State of Wisconsin. Issued 10/23/03
Morgan Stanley & Co. Inc., New York, NY. File No. S-03106(LX).
An Administrative Consent Order was issued as part of the national of
research analyst conflicts of interest settlements. The firm paid a civil
monetary penalty of $413,277 to the State of Wisconsin. Issued 10/15/03
UBS WarburgLLC and UBS PaineWebber Inc., Stamford, CT
and New York, NY. File No. S-03108(LX). An Administrative Consent Order
was issued as part of the national of research analyst conflicts of interest
settlements. The firm paid a civil monetary penalty of $413,277 to the
State of Wisconsin. Issued 10/09/03
U.S. Bancorp Piper Jaffray Inc., Minneapolis, MN. File
No. S-03099(LX). An Administrative Consent Order was issued as part of
the national of research analyst conflicts of interest settlements. The
firm paid a civil monetary penalty of $206,638 to the State of Wisconsin.
Issued 10/09/03
J.P. Morgan Securities Inc., New York, NY. File No.
S-03104(LX). An Administrative Consent Order was issued as part of the
national of research analyst conflicts of interest settlements. The firm
paid a civil monetary penalty of $413,277 to the State of Wisconsin. Issued
10/04/03
Bear, Sterns & CO., New York, NY. File No. S-03100(LX).
An Administrative Consent Order was issued as part of the national of
research analyst conflicts of interest settlements. The firm paid a civil
monetary penalty of $413,277 to the State of Wisconsin. Issued 10/03/03
Goldman, Sachs & Co., New York, NY. File No. S-03102
(LX). An Administrative Consent Order was issued as part of the national
of research analyst conflicts of interest settlements. The firm paid a
civil monetary penalty of $413,277 to the State of Wisconsin. Issued 09/24/03
Credit Suisse First Boston LLC f/k/a Credit Suisse First Boston
Corp., New York, NY. File No. S-03101(LX). An Administrative
Consent Order was issued as part of the national of research analyst conflicts
of interest settlements. The firm paid a civil monetary penalty of $1,239,832
to the State of Wisconsin. Issued 09/24/03
Daniel J. Carlson, Amery, WI. File No. S-03236(LX).
A Summary Order of Denial of Securities Agent Application was issued based
on failure to complete the application submitted on March 20, 2003.
Order Issued: October 24, 2003
Kevin Felix McGuire, Jackson, MI. File No. S-03194(EX).
A Summary Order of Prohibition and Revocation was issued based on allegations
of fraud in the offer and sale of investment contract securities.
Order Issued: October 16, 2003
Lawton Coonts, Brookfield, WI. File No. S-01222(EX).
A Consent Order of Prohibition and Revocation was issued based on allegations
of offers and sales of unregistered securities. This Order revokes and
replaces the Summary Order of Prohibition and Revocation issued against
Coonts on April 11, 2002.
Pelican Bay Holdings, Inc., Stephen F. Robson, Marc W. Robson,
and Bob N. Ezelle, Newport Beach, Moreno Valley and Costa Mesa,
CA. File No. S-03127(EX). Orders of Prohibition and Revocation of Exemptions
were issued based on allegations of offers and sales of unregistered securities.
Orders Issued: September 05, 2003
Michael E. Verity, Eleva, WI. File No. S-02053(EX).
An Order of Prohibition and Revocation of Exemptions was issued based
on allegations of fraud in the offer and sale of unregistered stock by
an unlicensed securities agent.
Order Issued: September 05, 2003
Thermax of Wisconsin and Tommy F. Johnson, Milwaukee
and Cudahy, WI. File No. S-02187(EX). Orders of Prohibition and Revocation
of Exemptions were issued based on allegations of fraud in the offers
and sales of unregistered securities.
Orders Issued: September 05, 2003
Money Branch Coal Company, Inc. and Darrell Keith Williams,
Stone, KY. File No. S-02279. Orders of Prohibition and Revocation of Exemptions
were issued based on allegations of offers and sales of unregistered promissory
notes.
Orders Issued: September 05, 2003
Lotus Management, Larry Hall a/k/a Bud Riley, Lauren R. Pool,
Sara Heesaker, and Kay Marie Geurts, Mesa, AZ, St. Paul and Rockford,
MN, DePere and New Franken, WI. File No. S-03154(EX). Orders of Prohibition
and Revocation of Exemptions were issued based on allegations of offers
and sales of unregistered securities by unlicensed agents.
Orders Issued: September 05, 2003
ITRADEnow.com Corp. and Lazar A. Kauderer, Lighthouse
Point, FL and Brooklyn, NY. File No. S-03136(EX). Orders of Prohibition
and Revocation of Exemptions were issued in the public interest and for
the protection of investors.
Orders Issued: September 05, 2003
Daniel D. LaCount,, Green Bay, WI. File No. S-02272(EX).
An Order of Prohibition and Revocation of Exemptions was issued based
on allegations of fraud in the offer and sale of promissory notes.
Order Issued: September 05, 2003
Charles L. Burton, Jr., Denver, CO. File No. S-99301(EX).
An Order of Prohibition was issued in the public interest and for the
protection of investors in connection with the offer and sale of the stock
of Wild Creek Holding Company, Inc., a Nevada corporation.
Order Issued: September 05, 2003
American Equity Group LLC, Jason Williams, Bob Thompson, Samuel
J. Greenblum, And Robert Figaro, San Francisco, CA. File No.
S-03088(EX). Orders of Prohibition were issued based on allegations of
offers of unregistered securities by an unlicensed agent.
Orders Issued: September 05, 2003
Michael F. Ajango, DePere, WI. File No. S-01143(LX).
An Order of Prohibition and Suspension (3 days) was issued based on allegations
of making an unsuitable recommendation.
Order Issued: September 05, 2003
Benjamin J. Hoepner, Chippewa Falls, WI. File No. S-03192(EX).
An Order of Denial of Securities Agent Application was issued based on
failure to complete the application submitted on January 13, 2003.
Order Issued: August 08, 2003
Ross/Pennywise Investment Club and Mark F. Mudgett,
Windsor, WI. File No. S-03092(EX). Summary Orders of Prohibition and Revocation
were issued based on allegations of fraud in the offer and sale of an
unregistered security.
Orders Issued: August 05, 2003
Cash Now-USA.Com, Inc., Miro Zecevic, Garr Winters, Andrea Zecevic,
Teresa Rubio, and Paul Gold, Markham, Ontario, Canada. File No.
S-03051(FX). Summary Orders of Prohibition were issued based on allegations
of offering and selling an unregistered franchise.
Orders Issued: August 05, 2003
Sofnet, Inc., Raymond Talarico, and Glenn Jackson, Ft.
Lauderdale, FL. File No. S-02188(EX). Summary Orders of Prohibition and
Revocation were issued based on allegations of offering and selling unregistered
securities.
Orders Issued: August 05, 2003
Champion Drilling, Inc., Trenton J Davis, Cotton T Graham, Rick
Herrera, and Randy Stevens, Plano, TX. File No. S-03017(EX).
Summary Orders of Prohibition and Revocation were issued based on allegations
of fraud in the offer and sale of unregistered securities by an unlicensed
agent.
Orders Issued: August 05, 2003
On Systems Technology, LLC, Telecom Advisory Services, Inc.,
Leon D. Swichkow, Marc David Shiner, Timothy A. Wetherald, and Frank Southerland,
Jr., Aurora, CO, Boca Raton, and Wilton Manners, FL. File No.
S-02256(EX). Summary Orders of Prohibition and Revocation were issued
based on allegations of fraud in the offer and sale of unregistered securities
by an unlicensed broker-dealer and agent.
Orders Issued: August 05, 2003
Gates, Paul & Lear, LLC, Kevin M. Jereczek, Allen Nimmer,
and Louis H. LaCount, Green Bay, WI. File No. S-98109(EX). Summary
Orders of Prohibition and Revocation were issued based on allegations
of fraud in the offer and sale of unregistered securities.
Orders Issued: July 17, 2003
Integrated Cash Systems, Inc., Douglas G. Cuthbert, Steven C.
Sacco, Kevin J. Falvey, and Clyde E. Morgan, West Palm Beach,
FL and Lakewood, CO. File No. S-03095(EX). Summary Orders of Prohibition
and Revocation were issued based on allegations of fraud in the offer
and sale of unregistered securities by an unlicensed agent.
Orders Issued: July 17, 2003
Bytesize Computers, Inc. and Glynn W. DeLange, Mosinee,
WI. File No. S-03020(EX). Consent Orders of Prohibition were issued based
on allegations of fraud in the offer and sale of unregistered securities.
Orders Issued: July 17, 2003
ARBTEC Industries, Inc., ARBCO Electronics, Inc., LABCO Research
Co., Robert B. Widner, Robert L. Widner, and Edward D. Widner,
Parker, CO. File No. S-003090(EX). Summary Orders of Prohibition and Revocation
were issued based on allegations of fraud in the offer and sale of unregistered
securities.
Orders Issued: July 17, 2003
Rose A. Buteyn, Sheboygan, WI. File No. S-03166(LX).
An Order of Denial of Securities Agent Application was issued based on
failure to complete the application submitted on September 14, 2002.
Order Issued: July 03, 2003
Aimee M. Kienast, Eagle, WI. File No. S-03155(LX). An
Order of Denial of Securities Agent Application was issued based on failure
to complete the application submitted on November 7, 2002.
Order Issued: June 18, 2003
World Energy Corporation, Ltd. and Victor G. Ellis aka William
L. Campbell aka Bud Campbell, Nassau, Bahamas. File No. S-03115(EX).
Orders of Prohibition and Revocation were issued based on allegations
of fraud in the offer and sale of unregistered securities in the form
of investments in oil and gas wells.
Orders Issued: June 13, 2003
David D. Bartz, Cambridge, WI. File No. S-03142(LX).
An Order of Denial of Securities Agent Application was issued based on
failure to complete the application filed on October 1, 2002.
Order Issued: June 11, 2003
John T. Ragnoni, Needham, MA. File No. S-03120(LX).
An Order of Denial of Securities Agent Application was issued based on
failure to complete the application filed on July 9, 2002.
Order Issued: May 21, 2003
Skyward Group, Thomas L. Anderson, Barbara E. Anderson, and Anthony
Heppner, Eau Claire, WI, and Theilman, MN. File No. S-01059(EX).
Orders of Prohibition and Revocation were issued based on allegations
of fraud in the offer and sale of unregistered investment contracts in
the form of Loan Agreements to be used for offshore banking and debit
cards.
Orders Issued: May 13, 2003
Native American Insurance Company, Inc., Native American Mutual
Insurance Company, and Daniel D. Hawk, Madison, WI. File No.
S-03038(EX). Orders of Prohibition and Revocation of Exemptions were issued,
based on allegations of fraud in the offer and sale of unregistered stock.
Orders Issued: May 02, 2003
Chestnut Petroleum, Inc., Mark A. Plummer, Mark J. Solomon and
Thomas E. Tapia, Plano, TX. File No. S-02023(EX). A Settlement
Agreement was entered into by the Respondents.
Settlement Issued: April 24, 2003
Great American Hotels & Resorts, Inc., Edward L. Bates, and
Bailey E. Spears, Jr., Duluth, GA. File No. S-00209(EX). Orders
of Prohibition and Revocation were issued based on allegations of fraud
in the offer and sale of unregistered stock.
Orders Issued: April 11, 2003
Yucatan Resorts, S.A., de D.V. Cancun, Quintana Roo,
Mexico. File No. S-00031(EX). An Order of Prohibition was issued based
on allegations of fraud in the offer and sale of unregistered securities
by an unlicensed agent. The Summary Orders of Prohibition and Revocation
issued against the firm and Michael E. Kelly on April 2, 2001 are revoked.
Orders Issued: April 04, 2003
Sierra Energy Partners, James W. Brake, and Amil Imani,
Austin, TX. File No. S-02038(EX). Orders of Prohibition and Revocation
of Exemptions were issued based on allegations of the offer and sale of
unregistered securities by an unlicensed broker-dealer and agents, and
making a false or misleading filing with the Division.
Orders Issued: March 12, 2003
Terence L. O’Brien, Boston, MA. File No. S-00166(EX).
An Order of Prohibition and Revocation of Exemptions was issued, based
on allegations of unauthorized trades by an unlicensed agent in Wisconsin.
Order Issued: March 12, 2003
Cardiovascular Sciences, Inc., Neal C. Harper, Scott Q. Dart,
and Frankie Gazard, Casselberry and Altamonte Springs, FL. File
No. S-01272(EX). Orders of Prohibition and Revocation of Exemptions were
issued based on allegations of fraud in the offer of unregistered securities
by unlicensed agents.
Orders Issued: March 12, 2003
First Optimum Group, Inc., Michael Kapelushnik a/k/a Michael
Kapel, and Sean Anthony, Hollywood, FL and Brooklyn, NY. File
No. S-99228(EX). Orders of Prohibition and Revocation of Exemptions were
issued based on allegations of the offer and sale of unregistered securities
by an unlicensed broker-dealer and agents.
Orders Issued: March 12, 2003
Paul J. Polaski, Hartland, WI. File No. S-00266(EX).
An Order of Prohibition was issued, vacating and replacing an Order of
Prohibition issued on February 7, 2003.
Order Issued: March 12, 2003
RBID.com, Inc., Klaus Bartak, Horst P. Danning, Fred Wallace,
Emilio Francisco, Debra Martinez, Raymond L. Leonard, Jr., Irvine
and Laguna Hills, CA. File No. S-02197(EX). Orders of Prohibition and
Revocation of Exemptions were issued based on allegations of fraud in
the offer of unregistered securities by an unlicensed agent.
Orders Issued: March 03, 2003
Peter F. Wahlen, Beaver Dam, WI. File No. S-02278(EX).
An Order of Prohibition and Revocation of Exemptions was issued based
on a conviction in federal court of converting bond investors’ funds to
his own use.
Order Issued: March 03, 2003
Land Rush Entertainment LLC, Nicole M. Hahn a/k/a Nicole M. Mazza,
Ian Steven Hahn a/k/a Steve Hahn, and Max N. Bacal, Beverly Hills,
CA. and Miami, FL. File No. S-02207(EX). Orders of Prohibition and Revocation
of Exemptions were issued based on allegations of fraud in the offer of
unregistered securities by an unlicensed agent.
Orders Issued: March 03, 2003
Peter W. Brey, Madison, WI. File No. S-00282(LX). An
Order of Suspension of Securities Agent License was issued based on allegations
of exercising unwritten discretionary authority in the accounts of at
least 12 customers, making an unsuitable recommendation, and withholding
or concealing a material fact from the staff.
Order Issued: February 24, 2003
Patterson Securities, Inc., Chicago, IL. File No. S-03029(LX).
An Order of Denial of Broker-Dealer Application was issued based on the
firm’s failure to complete the application filed on July 15, 2002.
Order Issued: February 14, 2003
M.B. Holdings USA, Inc., Khurram Tanwir, Jeffrey Ross, and OnCall
Contractor.com, Inc., New York, NY. File No. S-02232(EX). Orders
of Prohibition were issued based on allegations of fraud in the offer
and sale of unregistered securities by unlicensed agents for an unlicensed
broker-dealer.
Orders Issued: February 14, 2003
Biogenetic Research, Inc., Richard E. Buffington III, and Gina
R. Becker, Casselberry, and Ft. Meyers, FL. File No. S-00256(EX).
Orders of Prohibition and Revocation of Exemptions were issued based on
allegations of fraud in the offer and sale of unregistered securities
by an unlicensed agent.
Orders Issued: February 14, 2003
Liberte Capital Group LLC, J. Richard Jamieson, Jr., Viatical
Escrow Services, LLC, and James A. Capwill, Toledo and Twinsburg,
OH. File No. S-99106(EX). Orders of Prohibition and Revocation were issued
based on allegations of fraud in the offer and sale of unregistered securities
in the form of viatical settlements.
Orders Issued: February 7, 2003
I.O.P. Digital Software, Ltd., Alexander Freyman, and Alan Fisher,
Brooklyn, NY. File No. S-01154(EX). Orders of Prohibition were issued
based on allegations of the offer and sale of unregistered securities
by an unlicensed agent.
Orders Issued: February 7, 2003
Berry Resources, Inc., Ralph O. Berry III, Jeremiah Dillon, and
Jason Uhles, Bowling Green, KY. File No. S-02129(EX). Orders
of Prohibition were issued based on allegations of the offer of unregistered
securities by an unlicensed agent.
Orders Issued: February 7, 2003
RODI Power Systems, Inc., Byron R. Spain, Gwendolyn S. Spain,
Manufacturers Asset Group, LLC, Raymond L. Leonard, Jr., Glenda S. Brannon,
Lawrence Anderson a/k/a/ Ron Lawrence, and James “Jim” Bradford,
Abbeville, LA, Mission Viejo and Los Angeles, CA. File No. S-02019(EX).
Orders of Prohibition and Revocation were issued based on allegations
of fraud in the offer and sale of unregistered securities by unlicensed
agents for an unlicensed broker-dealer.
Orders Issued: February 7, 2003
Ying Xiong, Brooklyn Center, MN. File No. S-02224(EX).
An Order of Prohibition and Revocation was issued based on allegations
of fraud in the offer and sale of securities.
Order Issued: February 5, 2003
Francis P. Havey and Havey Fund Raising Management, Inc.,
Milwaukee, WI. File No. S-98104(EX). Orders of Prohibition and Revocation
were issued based on allegations of fraud in the offer and sale of unregistered
securities by an unlicensed broker-dealer and agent.
Orders Issued: February 5, 2003
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