Press Releases
| For Immediate Release |
|
| July 18, 2007 |
Contact: Charles Evenson
608-266-2026 |
Recent DFI Disciplinary Actions
(Madison)The Department of Financial Institutions announced the following
recent actions.
Division of Banking
Homestar Mortgage Inc. of Marinette
Bond cancelled.
Revocation issued June 1, 2007.
Office of Credit Unions
Educator Group Plans, Dallas, TX. Order to Cease and Desist the use
of a credit union’s name in marketing material without the permission
of said credit union.
Order issued February 2, 2007.
Affiliated Mortgage Protection, Newark, NJ. Order to Cease and Desist
the use of a credit union’s name in marketing material without
the permission of said credit union.
Order issued May 2, 2007.
Division of Securities
Progressive Home Services, Inc., dba IPM Realty, and Investment
Properties of Minnesota, Anoka, MN; James W. Abbott, Ham Lake, MN;
and Joseph A.
Cole, Ham Lake, MN. File No. S-06180 (EX). Summary Orders of Prohibition
and Revocation for the sale of unregistered securities, making untrue
statements of material fact and failing to respond to Division requests.
Order issued April 13, 2007.
Clutterbusters Franchising, Inc., Derwood, MD. File No. S-05189 (FX).
Summary Order of Suspension for filing an incomplete registration application
with the Division.
Order issued April 13, 2007.
Duane C. Boechler, Wauwatosa, WI. File No. S-07034 (EX). Summary Order
of Prohibition and Revocation for unlicensed selling of unregistered
securities and violation of and committing fraud in the sale of securities.
Order issued April 13, 2007.
Interstar Management, Ltd.; Garry J. Milosevich; and Daniel
T. Tepoel, Grenada, West Indies. File No. S-05035(EX). Summary Orders of Prohibition
and Revocation for unlicensed selling of unregistered securities and
failure to respond to the Division.
Order issued May 04, 2007.
Mutual Benefits Corp., Peter Lombardi, Joel Steinger aka Joel
Steiner, and Leslie Steinger aka Leslie Steiner, Fort Lauderdale, FL. File No.
S-07029(EX). Summary Orders of Prohibition and Revocation for having
unlicensed agents selling unregistered viatical securities, failing to
disclose material facts, misrepresenting facts, and making untrue statements.
Order issued May 23, 2007.
David S. Masunas, Wausau, WI. File No. S-06164(LX). Consent Order of
Censure for transacting discretionary trading in a customer’s account
without prior written discretionary authority from the customer.
Order issued May 23, 2007.
DFI is responsible for ensuring the safety and soundness of Wisconsin’s
financial institutions and for protecting consumers of financial services.
DFI encourages anyone with a question about a financial services provider
to call (608) 261-9555.
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