Regulatory Alerts2025-10-03
Pennsylvania Department of Banking and Securities v. Networked International, LLC, Spencer Lussier, and Grant Lussier
The Pennsylvania Department of Banking and Securities filed an administrative complaint against Networked International, LLC and its executives Spencer Lussier and Grant Lussier for willfully violating the Pennsylvania Securities Act of 1972. The Bureau alleges the respondents offered and sold unregistered securities to investors, including Pennsylvania residents, while omitting material financial information and misusing company funds for personal expenses. The complaint seeks sanctions including the suspension or revocation of registration, permanent bars from the securities industry, rescission offers to investors, disgorgement of compensation, and administrative penalties of up to $100,000 per violation.
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