|FOR IMMEDIATE RELEASE
April 3, 1998
PRESS RELEASE 98-DOS-4
CONTACT: Lisa Roys
Patricia Struck, DOS Administrator
ADMINISTRATIVE ORDER ISSUED AGAINST
P&M PROCESSING, INC.,
WAYNE A. PINCHART
WILLIAM J. MARTIN
SUN PRAIRIE, 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
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.