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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-03090(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-02074(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

Beneficial Assistance a/k/a Beneficial Assurance, Ltd., Baltimore, MD and Washington, DC. File No. S-01297(EX). An Order of Prohibition and Revocation was issued based on allegations of fraud in the offer and sale of unregistered securities in the form of viatical settlements and employing unlicensed agents.
Order Issued: February 5, 2003

Cora M. Buckowich, Wexford, PA. File No. S-02270(EX). An Order of Prohibition and Revocation was issued based on allegations of fraud by an unlicensed broker-dealer.
Order Issued: February 5, 2003

Douglas M. Bray, Richard D. Hanzlik, Charles L. Ouimette, and Keith J. Vandell, Minneapolis, MN. File No. S-03022(LX). An Order of Suspension of Investment Adviser Representatives Licenses was issued based on the failure of Marathon Advisors, Inc. to make the necessary filings for these advisers to be included in the electronic records of the Central Registration Depository, after numerous notifications by staff, beginning June 26, 2002.
Order Issued: February 4, 2003

Joseph DiMarzo, Rochester, NY. File No. S-99184(EX). An Order of Prohibition and Revocation of Exemptions was issued based on allegations of fraud in the offer and sale of unregistered common stock by an unlicensed broker-dealer and agent.
Order Issued: January 22, 2003

Donald W. Hawkins, Eau Claire, WI. File No. S-02201(EX). An Order of Prohibition and Revocation of Exemptions was issued based on allegations of fraud in the offer and sale of securities.
Order Issued: January 7, 2003

Martin R. Mincer, Jeffrey C. Hoyt, Ronald B. Stogner, John Rawlins and Highbury Capital, Inc., Rochester, NY. File No. S-99184(EX). Orders of Prohibition and Revocation of Exemptions were issued based on allegations of fraud in the offer and sale of unregistered common stock by an unlicensed broker-dealer and agent.
Orders Issued: January 7, 2003

Information Brokerage Systems, Inc. and Michael W. Edgecomb, Lenexa and Olathe, KS. File No. S-02203(EX). Orders of Prohibition were issued based on allegations of offers and sales of unregistered investment contracts in the form of 24-month certificates of deposit.
Orders Issued: January 7, 2003

Atlantic-Pacific Capital Partners LLC, Greenwich, CT. File No. S-02269(LX). An Order of Denial of Broker-Dealer Application was issued based on the firm's failure to complete the application filed with the Division on May 20, 2002.
Order Issued: January 7, 2003

Gerald J. Sanderfoot, Hortonville, WI. File No. S-99133(EX). An Order of Prohibition and Revocation of Exemptions was issued based on allegations of fraud in the offer and sale of securities in the form of promissory notes.
Order Issued: January 7, 2003