Regulatory Alerts2012-12-31
Added · Updated
Winter 2012 Securities Bulletin
The Connecticut Department of Banking issued cease and desist orders, fines, and restitution requirements against multiple entities and individuals for violations including the sale of unregistered securities, operating as unregistered broker-dealers or investment advisers, and fraud. Specific penalties include a $25,000 fine for Eric Olojugba, $50,000 fines each for Sky Watch Media, Inc. and Marie Meredith Duqesne, and a ten-year industry bar for William Alexis Cronin, Jr. The bulletin also details civil actions resulting in permanent injunctions and asset freezes for The Magic Plunger, LLC, and imposes conditional registration with a 120-day suspension and heightened supervision for William F. Wadsworth, Sr.
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