Regulatory Alerts2022-12-23
Added · Updated
Consent Order: The Hop Knot Franchising Corp. and Michael T. Boney
The Banking Commissioner enters a Consent Order against The Hop Knot Franchising Corp. and Michael T. Boney for violating the Connecticut Business Opportunity Investment Act by offering unregistered franchises, filing false statements, and failing to provide required contracts. Boney is barred from associating with business opportunity sellers in a proprietary or supervisory capacity for three years, and the company's pending registration is deemed denied. A $50,000 administrative fine is stayed for three years, becoming immediately payable if the respondents are found able to pay or if material misstatements in their financial affidavit are discovered.
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