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.