Regulatory Alerts2011-09-02
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Bulletin 2480 - Sept. 2, 2011
The Connecticut Department of Banking imposed a $1,000 civil penalty on Gold Coast Mortgage LLC and a $9,000 penalty on Flaherty Funding for employing unlicensed or unregistered mortgage loan originators. Additionally, the Commissioner issued $100,000 fines against CherryHomes Joint Venture, Regal Royalty Resource, Lance David Brooks, Air-Byrd Operations LLC, Air-Byrd/River Joint Venture, and MidAmerica Resources, Inc. for selling unregistered securities and failing to provide material disclosures to investors. All respondents in the securities cases did not appear or contest the fines.
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