Regulatory Alerts2024-07-26
Added · Updated
Order to Cease and Desist and Notice of Intent to Fine Against IRWT, LLC and Russell D. Davis
The Connecticut Banking Commissioner orders IRWT, LLC and Russell D. Davis to cease and desist from making materially false or misleading statements to the Commissioner, following Davis's false representation that the entity held no bank accounts other than a PayPal account. The Commissioner issues a notice of intent to impose a fine of up to $100,000 per violation of Section 36b-23 of the Connecticut Uniform Securities Act. Respondents are granted the right to request a hearing within fourteen days of receipt, with a scheduled hearing date of September 18, 2024, if requested.
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