Regulatory Alerts2020-01-10
Added · Updated
Order to Cease and Desist, Order to Make Restitution, and Notice of Intent to Fine and Right to Hearing
The Banking Commissioner orders ARO Equity, LLC, Thomas David Renison, and Thomas James Renison to cease and desist from violating the Connecticut Uniform Securities Act, make restitution to defrauded investors, and pay fines. The Respondents are accused of selling over $5.8 million in unregistered promissory notes while concealing material losses and misrepresenting the use of investor funds. The order addresses TDR's prior disciplinary history and his role in concealing his involvement with ARO despite being barred by the SEC. The document initiates enforcement actions including a cease and desist order, restitution requirements, and a notice of intent to impose fines.
Topics
Share