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Securities Administrative Orders Issued

The following orders were issued by the Division pursuant to Wis. Stat. §551.605 with respect to various professional registration and securities filing requirements under the Wisconsin Uniform Securities Law and may modify or supplement the requirements of Chapter 551. For orders relating to enforcement matters, see below.

COVID-19 Orders

Adobe PDF Document Emergency Order for Registrants Affected by the COVID-19 Outbreak (Issued March 20, 2020)

Crowdfunding Orders

Adobe PDF Document Order Permitting Certain Advertising under Wis. Stat. §551.202(27)

Adobe PDF Document Order Regarding Periodic Reporting

Adobe PDF Document Order Regarding Commissions

Exemption Orders

Adobe PDF Document Order Designating Nationally Recognized Securities Manual

Adobe PDF Document Private Fund Adviser Exemption Order

Professional Registration Orders

Adobe PDF Document Order Requiring Compliance with New FINRA Examination Requirements

Reg A Orders

Adobe PDF Document Order Regarding Regulation A Tier 2 Notice Filing

Reg D Orders

Adobe PDF Document Reg D Delinquent Filing Order

Enforcement Orders

The following orders were issued by the Division to enforce various provisions of the Wisconsin Uniform Securities Law as found in Chapter 551. Signed copies of Petitions for Order and Orders associated with the following persons or entities are available in the PDF format.

See Links to Archives below

 

Craig F. Wollenburg & Diversified Energy Resources, LLC – Case No. S-244562 (EX) – a Summary Order to Cease and Desist was issued against Craig F. Wollenburg & Diversified Energy Resources, LLC for the following violation:

  • Respondents violated Wis. Stat. § 551.501(2) when they offered and sold securities to Wisconsin residents without disclosing the 2003 North Dakota Order issued against Wollenburg to the Wisconsin residents.

Order issued June 22, 2022

 

Anthony B. Liddle – Case No. S-244949 (LX) – a Final Order by Consent to Cease and Desist, Revoking Exemptions and Barring Registration was issued against Anthony B. Liddle for the following violation:

  • Liddle engaged in dishonest or unethical practices in the securities businesses in violation of the Wis. Stat. § 551.412(4)(m) and Wis. Admin. Code DFI-Sec 5.06(6).
  • Liddle is subject to discipline pursuant to Wis. Stat. § 551.412(4)(m) because he borrowed money from clients in the amount of $1.8 million.
  • Liddle violated Wis. Stat. § 551.501(2) when he, in connection with the offer, sale or purchase of a security, directly or indirectly, omitted to state material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, including the failure to inform the Wisconsin investor that GWG Holdings, Inc. had suspended L Bond sales in April 2021 and that he was not authorized to sell them.

Order issued June 8, 2022

 

Steven L. DeWitt a/k/a Trevor Bloom d/b/a The Authentic Trader – Case No. S-240680 (EX) – a Final Order to Cease and Desist by Consent was issued against Steven L. DeWitt a/k/a Trevor Bloom d/b/a The Authentic Trader for the following violation:

  • DeWitt violated Wis. Stat. § 551.403(1) when he transacted business as an investment adviser without being registered or exempted from registration under Ch. 551.
  • DeWitt violated Wis. Stat. § 551.501(2) when he failed to disclose his felony conviction, the Arizona order, and his lack of any securities registration to a Wisconsin investor.

Order issued May 25, 2022

 

James R. Strauss f/k/a James Robert Straus – Case No. S-240491 (EX) – a Summary Order to Cease and Desist Including Restitution with Interest, Civil Penalties, and Costs was issued against James R. Strauss f/k/a James Robert Straus for the following violation:

  • Strauss transacted business as a broker-dealer without being registered or exempted from registration under Ch. 551 in violation of Wis. Stat. § 551.401(1).
  • Strauss violated Wis. Stat. § 551.501(1), when in connection with the offer, sale, or purchase of a security, he employed a device, scheme or artifice to defraud a Wisconsin investor, including but not limited to paying her back with her own principal investment (Ponzi payments).
  • Strauss violated Wis. Stat. § 551.501(2) when in connection with the offer, sale, or purchase of a security, directly or indirectly, he omitted to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, including but not limited to his prior felony conviction for wire fraud, and his misuse of the Wisconsin investor’s funds on non-investment personal expenses.
  • Strauss violated Wis. Stat. § 551.501(2), when in connection with the offer, sale, or purchase of a security, directly or indirectly, he made untrue statements of a material fact, including but not limited to the representation that he would invest the Wisconsin investor’s money on her behalf, but never did.
  • Strauss violated Wis. Stat. § 551.501(3) when in connection with the offer, sale, or purchase of a security, he engaged in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person, including but not limited to failing to disclose his prior felony conviction for wire fraud, representing to the Wisconsin investor that he would invest her money on her behalf when in fact he used it solely for non-investment personal expenses, and making Ponzi payments back to the Wisconsin investor.

Order issued May 25, 2022

 

Flamingo Casino Club – Case No. S-244933 (EX) – a Summary Order to Cease and Desist And Revoking Exemptions was issued against Flamingo Casino Club for the following violations:

  • Flamingo Casino Club violated Wis. Stat. § 551.301 by offering securities for sale in Wisconsin at a time when the securities are not registered with the division, federal covered securities, or exempt from registration.
  • Flamingo Casino Club violated Wis. Stat. § 551.501, by engaging in fraud in connection with the offer for the sale of securities by each of the following:
    • employing a device, scheme, or artifice to defraud,
    • making offers containing untrue statements that, in light of the circumstances under which they were made, are materially misleading, constitute material omissions, or otherwise likely to deceive the public, and
    • engaging in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.

Order issued May 11, 2022

 

James J. Scofield – Case No. S-244208 (EX) – a Final Order by Consent to Cease and Desist by Consent was issued against James J. Scofield for the following violation:

  • Scofield violated Wis. Stat. § 551.403(1) when he transacted business as an investment adviser in Wisconsin without being registered.

Order issued April 27, 2022

 

Stephen Byrne – Case No. S-239572 (EX) – a Final Order by Consent to Cease and Desist was issued against Stephen Byrne for the following violations:

  • Respondent violated Wis. Stat. § 551.301 when he offered and sold securities that were not registered or exempted from registration under Ch. 551 or federally covered.
  • Respondent violated Wis. Stat. § 551.501(2) when he failed to disclose the Moore lawsuit to the Wisconsin investors.

Order issued March 15, 2022

 

Theresa M. Lasee – Case No. S-244188 (EX) – a Final Order by Consent to Cease and Desist and for Restitution and Penalties was issued against Theresa M. Lasee for the following violation:

  • Lasee violated Wis. Stat. § 551.501(2), when, in connection with the offer, sale, or purchase of a security, made material untrue statements including but not limited to that she would invest Wisconsin investor’s funds by opening retirement accounts for them, that one of the Wisconsin investors would earn bonuses for transferring her funds quickly. Lasee also omitted to state material facts when she failed to inform that Wisconsin investor that she was not a registered representative of Fidelity Brokerage Services, LLC and that no retirement accounts were opened at Fidelity in that Wisconsin investor’s name.

Order issued March 7, 2022

 

Anthony M. Hernandez, Oi2Go Media Technologies, Inc. & Oi2Go, LLC – Case No. S-240061 (EX) – a Final Order to Cease and Desist including Restitution and Interest and Civil Penalties by Consent was issued against Anthony M. Hernandez, Oi2Go Media Technologies, Inc. & Oi2Go, LLC for the following violations:

  • Hernandez and Oi2Go violated Wis. Stat. 551.402(4) when they employed or associated with Green as an agent who transacted business in Wisconsin on behalf of Hernandez and Oi2Go without being registered under Wis. Stat. § 551.402(1) or exempt from registration under Wis. Stat. § 551.402(2).
  • Hernandez and Oi2Go violated Wis. Stat. § 551.501(2) when they misrepresented Oi2Go as being registered as a broker-dealer with the SEC and FINRA when it was not registered in any capacity with the SEC, FINRA, or the Division.
  • Hernandez and Oi2Go violated an order promulgated under Ch. 551 when they failed to notice file their Regulation A Tier 2 offering.
  • All Respondents violated Wis. Stat. § 551.501(1)-(3) by implementing a scheme to conduct business, in connection with the offer and sale of securities, so as to operate a fraud and deceit upon a Wisconsin investor, including by and through use of misleading and material misstatements of fact.

Order issued February 28, 2022

 

CryptoNXT.io, CryptoNXT, Best Media LLC, Best Media Ltd., Jacob Visser, James Hamilton, Dan Lucas & Snezhana Nedkova Nedkova – Case No. S-243945 (EX) – a Summary Order to Cease and Desist was issued against CryptoNXT.io, CryptoNXT, Best Media LLC, Best Media Ltd., Jacob Visser, James Hamilton, Dan Lucas & Snezhana Nedkova Nedkova for the following violations:

  • Snezhana Nedkova Nedkova, CryptoNXT, CryptoNXT.io, Best Media LLC, and Best Media Ltd. violated Wis. Stat. § 551.401(1) by transacting business as a broker-dealer in Wisconsin without being registered under Ch. 551 or exempted from registration under Wis. Stat. § 551.401(2).
  • Jacob Visser, James Hamilton, and Dan Lucas violated Wis. Stat. § 551.402(1) by transacting business as an agent of a broker-dealer in Wisconsin without being registered under Ch. 551 or exempted from registration under Wis. Stat. §551.402(2).
  • All Respondents violated Wis. Stat. § 551.301 by offering and selling unregistered securities in this state to a Wisconsin investor.
  • All Respondents violated Wis. Stat. § 551.501(1)-(3) by implementing a scheme to conduct business, in connection with the offer and sale of securities, so as to operate a fraud and deceit upon a Wisconsin investor, including by and through use of misleading and material misstatements of fact.

Order issued February 17, 2022

 

Michael Wayne Hoeft – Case Nos. S-243936 (EX), S-244412 (EX) & S-244578 (EX) – a Summary Order to Cease and Desist was issued against Michael Wayne Hoeft for the following violations:

  • Hoeft violated Wis. Stat. § 551.401(1) when he transacted business as a broker-dealer in Wisconsin without being registered or exempted from registration.
  • Hoeft violated Wis. Stat § 551.403(1) when he transacted business as an investment adviser in Wisconsin without being registered or exempted from registration.

Order issued February 8, 2022

 

Xtreme Clean of the Fox Cities, Inc. – Case No. S-244553 (FX) – a Summary Order to Cease and Desist and Revoking Franchise Registration was issued against Xtreme Clean of the Fox Cities, Inc. for the following violation:

  • Xtreme Clean of the Fox Cities, Inc. violated Wis. Stat. § 553.26(1) when it failed to upload an offering circular in a form required by Wis. Stat. § 553.27(4) with the franchise registration for Xtreme Clean of the Fox Cities, Inc.

Order issued January 18, 2022

 

Daniel L. Van Houten a/k/a Danny L. Van Houten – Case No. S-236002 (EX) – a Consent Order to Cease and Desist and for Civil Penalties was issued against Daniel L. Van Houten a/k/a Danny L. Van Houten for the following violations:

  • Van Houten violated Wis. Stat. § 551.402(1) when he offered and sold securities in Wisconsin without being registered as an agent or properly exempted from registration as an agent under Ch. 551.

Order issued January 11, 2022

 

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