2012 Press Releases

12/20/2012

CRESTONE TELECOM COMPANY SANCTIONED BY SECURITIES COMMISSIONER AND ORDERED TO STOP OFFERING SECURITIES IN COLORADO

Denver, Colorado --- Colorado Securities Commissioner Fred Joseph announced today that he has entered a final cease and desist order against a Crestone, Colorado telecommunications company to stop offering or selling unregistered securities in Colorado for violating the securities registration provisions of the Colorado Securities Act (“Act”) in connection with the offer of securities in Colorado.

Named in the Order are Crestone Telecom, LLC, Ralph Abrams, the CEO and owner of Crestone Telecom, and Cheryl Rowe, Investor Outreach Manager for Crestone Telecom. Abrams and Rowe both reside in Crestone, Colorado.

Press Release

11/14/2012

COLORADO ATTORNEY SANCTIONED BY SECURITIES COMMISSIONER

Denver, Colorado --- Colorado Securities Commissioner Fred J. Joseph announced today that he has entered a final cease and desist order against a Colorado attorney for allegedly violating the securities licensing provisions of the Colorado Securities Act (“Act”) in connection with the offer of securities in Colorado.

Named in the Order is Charles A. Zimmerman, and his firm, the Zimmerman Law Firm, LLC.

Press Release

10/15/2012

Colorado Securities Commissioner Agrees to Settlement with Insurance Company

Colorado Securities Commissioner Fred Joseph announced today the terms of a settlement between the Colorado Division of Securities and Bankers Life and Casualty Company ("Bankers Life"), concluding an investigation of unlicensed brokerage activity by the insurance company.

Press Release

8/15/2012

FORMER STOCKBROKER CHARGED WITH SECURITIES LAW VIOLATIONS

Denver, Colorado --- Colorado Securities Commissioner Fred Joseph announced today that he has filed a complaint in Denver District Court against a former stockbroker alleging that he violated the anti-fraud provisions of the Colorado Securities Act. The Commissioner also obtained an emergency court order freezing the stockbroker’s assets.

Named in the complaint is Clinton D. Fraley, of Greenwood Village, and his company, Wealth by Design, Inc., of Englewood, Colorado.

Press Release

7/25/2012

TEXAS OIL AND GAS COMPANY SANCTIONED BY SECURITIES COMMISSIONER

Denver, Colorado --- Colorado Securities Commissioner Fred Joseph announced today that he has entered a final cease and desist order against a Texas oil and gas company and its chief executive officer for offering the company’s securities in Colorado in violation of the securities registration provisions of the Colorado Securities Act (“Act”).

Named in the Order are Millennium Exploration Company, LLC, and its president and chief executive officer, Richard Monroy, both of San Antonio, Texas.

Press Release

7/23/2012

SECURITIES COMMISSIONER CHARGES STOCKBROKER IN FRAUDULENT INVESTMENT SCHEME

Denver, Colorado --- Colorado Securities Commissioner Fred Joseph announced today that a former stockbroker in Aurora, Colorado has been charged with defrauding investors in a $400,000 investment scheme.

The Commissioner alleges in his complaint, that Ricky T. Meyer lured his investment advisory clients into investing in his companies, Journey Financial Partners and JFP Group Benefits, with promises that their investment funds would be used in various ways, including to purchase annuities, invest in a “fix and flip” investment property near Cheesman Park, purchase energy stocks, and invest in other various stocks. In one instance, it is alleged that Meyer convinced his clients to take out a mortgage on their home to make their investment with him. With these promises, Meyer obtained in excess of $400,000 from eleven of his clients. The complaint alleges that rather than invest the funds as represented, the funds were used to pay off previous investors in a Ponzi-like manner, used to pay off negative balances in Meyer’s bank accounts, withdrawn as cash by Meyer, and used for Meyer’s personal expenditures. Meyer is charged in the complaint with both securities fraud and investment advisory fraud.

Press Release

7/19/2012

Denver, Colorado – Colorado Securities Commissioner Fred Joseph announced today that he has settled his enforcement action against Brian T. Sullivan and Daniel F. Sheriff, and their firm, Fairfield Energy, Inc., all of Colorado Springs, Colorado.
 

Press Release

7/2/2012

WOODLAND PARK FIRM’S SECURTIES LICENSE SUSPENDED IN COLORADO

Denver, Colorado --- Colorado Securities Commissioner Fred J. Joseph announced today that the Colorado broker-dealer license of Bottom Line Results, Inc., a Woodland Park based securities/mortgage brokerage firm, has been suspended. In addition, the securities license for the president of Bottom Line Results, Richard M. Roop, has also been suspended. In a final order entered by the Securities Commissioner on July 2, 2012, both licenses were summarily suspended.

Press Release

 6/5/2012

Aurora Man Sentenced in Securities Scam

Aurora resident Larry Allen Hehr was sentenced to 8 years in prison by an Arapahoe District Court Judge for defrauding Colorado investors who invested in his business, announced Colorado Attorney General John Suthers and Colorado Securities Commissioner Fred Joseph.
 

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 5/2/2012

DENVER INVESTMENT FIRM AND ITS OWNERS CHARGED WITH SECURITIES LAW VIOLATIONS

Denver, Colorado --- Colorado Banking and Securities Commissioner Fred Joseph announced today that he has filed fraud charges in Denver District Court against three individuals and their related businesses alleging that they have violated the anti-fraud and licensing provisions of the Colorado Securities Act in connection with their marketing and soliciting of investors to invest in a Pennsylvania hedge fund that was operated as a Ponzi scheme.

Named in the complaint are Michael Philip McNamara, John Staiano, Jon Bradon Peterson a/k/a Brad Peterson, all of Denver, Colorado, and their business entities, Brentwood Equity Advisors, LLC, Jomac, LLC, and Sierra Capital Resources, LLC, also all of Denver, Colorado.

Press Release

4/20/2012

Denver DA - Insurance Broker Sentenced to Prison

A man accused of stealing more than a million dollars from elderly victims has been sentenced to prison today in Denver District Court. The case is the result of an investigation by the Colorado Division of Securities.
 

Michael Mendenhall (dob: 06-18-63) was found guilty at trial of 25 felony counts of securities fraud and theft and was sentenced to 30 years in prison today, and was ordered to pay more than $1 million in restitution ($1,408,667.77)

 Press Release

2/24/2012

 FLORIDA OIL AND GAS COMPANY SANCTIONED BY SECURITIES COMMISSIONER

Denver, Colorado --- Colorado Securities Commissioner Fred Joseph announced today that he has entered a final cease and desist order against a Florida company, its president, and a salesperson who offered investments in two oil and gas wells to a Colorado investor for allegedly violating the securities registration, licensing and anti-fraud provisions of the Colorado Securities Act (“Act”) in connection with the offer and sale of securities in Colorado.

Named in the Order are United States Energy Corporation, located in Boca Raton, Florida, its president, Glenn Hoppes, of St. Augustine, Florida, and Joseph Hilton, who is also known as Joseph Yurkin, and his company, New Horizon Publishing, Inc., both of Boca Raton, Florida.
 

Press Release

2/23/2012

SECURITIES COMMISSIONER SANCTIONS FLORIDA MEDICAL COMPANY

Denver, Colorado --- Colorado Securities Commissioner Fred Joseph announced today that he has entered a final cease and desist order against a Florida medical company for allegedly violating the securities registration, licensing, and anti-fraud provisions of the Colorado Securities Act (“Act”) in connection with the offer of securities in and from Colorado.

Named in the Order are Promed Alliance International, Inc. its chief executive officer, Willis B. Hale, both located in Deerfield Beach, Florida, and two salesmen for Promed: Joseph Hilton, who previously used another name, Joseph Yurkin, of Boca Raton, Florida; and Robert D. Allara, also of Boca Raton, Florida. Also named in the Order was Hilton’s company, New Horizon Publishing, Inc.

Press Release

 1/18/2012

Investor Education in Your Community® Programs Offered Free to the Public

In an investor protection effort to better empower investors to build and safeguard their future, Colorado’s Department of Regulatory Agencies (“DORA”) is pleased to announce a series of free upcoming financial management programs for Denver area businesses and organizations. DORA’s Division of Securities is able to sponsor these seminars through funding by the Investor Protection Trust (“IPT”), an organization whose mission is to provide consumers with independent, objective information and help them make informed investment decisions. 
 

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