Press Releases

FOR IMMEDIATE RELEASE
April 3, 1998
PRESS RELEASE 98-DOS-4

CONTACT: Lisa Roys
(608)266-0450
Patricia Struck,
DOS Administrator
(608)266-3432

ADMINISTRATIVE ORDER ISSUED AGAINST
P&M PROCESSING, INC.,
P&M CONSULTING
P&M INVESTMENTS
WAYNE A. PINCHART
and
WILLIAM J. MARTIN
of
VERONA, WISCONSIN
and
SUN PRAIRIE, WISCONSIN,
formerly of
JUDA, WISCONSIN

(Madison) The Wisconsin Department of Financial Institutions-Division of Securities Administrator Patricia D. Struck issued separate Administrative Orders of Prohibition and Revocation against P&M Processing, Inc., P&M Consulting, P&M Investments, Wayne A. Pinchart and William J. Martin, of Verona and Sun Prairie, Wisconsin, formerly of Juda, Wisconsin. The Orders as to the business entities as well as to Martin, a controlling person of each business entity, were consented to; the Order as to Pinchart, another controlling person of each business entity, was issued summarily.

The Orders were based on allegations of fraud in the offer and sale from 1991 to 1994 of debt securities of businesses to seven persons in Wisconsin. In addition, it is alleged that there was an offer and sale of an ownership interest in one of the businesses to a separate Wisconsin investor and of employing an unlicensed securities agent to make some of the securities sales.

The Orders prohibit the named persons from further offers or sales of unregistered securities, from anti-fraud violations, and from employing any unlicensed securities agent.

Persons with questions about the Orders or information about activities which may be in violation of the Orders should contact the Division of Securities at (608) 2665555 or 1-800-472-4325.