Regulatory Alerts2022-04-29
Added · Updated
Bulletin 3036 - April 29, 2022
The Connecticut Department of Banking imposed a $100,000 civil penalty and a cease and desist order on AVM Virtual Paralegal Services LLC for engaging in debt negotiation without a required license. The Superior Court ordered Adam Westphalen to reimburse investors $490,000 plus interest, pay a $900,000 fine, and pay an additional $400,000 for failing to comply with a prior Commissioner's Order. These actions address violations of the Connecticut General Statutes and the Connecticut Uniform Securities Act by the respective entities and individuals.
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