Regulatory Alerts2023-06-23
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Consent Order: Black Diamond Lifeplan Fund, Evergreen II Lifeplan Fund, Evergreen III Fund Management, Blue Diamond Fund, and Michael Gissas
The Connecticut Banking Commissioner imposes sanctions on Michael Gissas and four related entities for offering unregistered securities and making false statements during an investigation. Gissas must pay a $15,000 administrative fine and is barred from offering or selling securities or acting as a broker-dealer or investment adviser in Connecticut for seven years. The entities and Gissas are ordered to cease and desist from violating the Connecticut Uniform Securities Act, with Gissas eligible to request relief from the bar after five years.
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