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2011 Press Releases
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12/15/2011
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Colorado Securities Commissioner Agrees to Auction Rate Securities Settlement with Raymond James & Associates, Inc., and Raymond James Financial Services, Inc.
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11/16/2011
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AURORA MAN OFFERING STOCK ORDERED TO STOP BY SECURITIES COMMISSIONER Denver, Colorado --- Colorado Commissioner of Banking and Securities Fred Joseph announced today that he has entered a final cease and desist order against an Aurora man offering stock in his company for allegedly violating the securities registration provisions of the Colorado Securities Act (“Act”) in connection with the offer of securities in Colorado. Named in the Order is James F. Trenholm of Aurora, Colorado.
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10/26/2011
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TEXAS BROKERAGE FIRM’S LICENSE REVOKED FOR IMPROPER SALES PRACTICES Colorado Banking and Securities Commissioner Fred Joseph announced today that he Colorado broker-dealer license of O&G Securities, Inc., a Texas based securities brokerage firm, has been revoked. In addition to the revocation of the firm’s license, the Colorado securities license of one of the principals of the firm, Mary Martha Simpson, was also revoked. |
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10/19/2011
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Colorado Securities Commissioner Announces Settlement of its Auction Rate Securities Enforcement Action against E*TRADE Colorado Securities Commissioner Fred Joseph announced today that a settlement in principle has been reached between E*TRADE Securities, LLC, and the Colorado Division of Securities settling its enforcement action against E*TRADE related to its sale of auction rate securities to Colorado investors. Under the settlement agreement, E*TRADE agreed to buy back approximately $3.5 million worth of auction rate securities from Colorado investors who found themselves unable to sell their securities after they had been frozen in the auction rate securities ("ARS") market. The settlement also includes a broader agreement by E*TRADE to return approximately $100 million to the firm’s clients on a nationwide basis.
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10/6/2011
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SECURITIES COMMISSIONER ORDERS Denver, Colorado --- Colorado Securities Commissioner Fred Joseph announced today that he has entered a final cease and desist order against a California company and its managing director for allegedly violating the securities registration provisions of the Colorado Securities Act (“Act”) in connection with the offer of securities in Colorado. Named in the Order is AmIraq Fund, LP, its general partner, BB&M International Corporation, and the managing director and CEO of both, William Burbank, all of all of Coronado, California.
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9/23/2011
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PROMOTER OF PROPOSED PRO BASKETBALL TEAM 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 Greeley man for allegedly violating the securities registration provisions of the Colorado Securities Act (“Act”) in connection with the offer of securities in and from Colorado. Named in the Order is Patrick A. Kelly. Mr. Kelly placed advertisements on Craigslist for investors in his start-up professional basketball team called the Colorado Cougars. Mr. Kelly was seeking investors to finance the business of the Cougars with the plan that the Cougars would join or play in the American Basketball League, a minor league professional basketball league. The advertisements on Craigslist included language that Mr. Kelly was looking for a sports minded angel investor for a small short term loan (20% ROI) or partial ownership for the right person.
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8/20/2011
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FRED JOSEPH APPOINTED TO DUAL POST AS COLORADO’S BANKING AND SECURITIES COMMISSIONER
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8/16/2011
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CALIFORNIA ENVIRONMENTAL 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 two California companies, and their president and CEO, and a sales agent for allegedly violating the securities registration and licensing provisions of the Colorado Securities Act (“Act”) in connection with the offer and sale of securities in Colorado. Named in the Order are Energy & Environment Investments, LLC, its manager, Energy & Environment, Inc., the president, CEO and manager of both companies, Amir A. Sardari, and their sales agent, Timothy Sides, all of Costa Mesa, California.
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8/15/2011
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GOLDEN, CO — August 15, 2011 A Jefferson County grand jury has indicted a Lakewood man on four counts of violation of the Colorado Securities Act for fraudulent activities involving an investment club he organized in 2006. Arthur Joseph Dertina, DOB: 3-19-39, organized an investment club called the Denver Stock Market Investors Club (DSMIC). It was a general partnership with its main office located in Lakewood. The fraudulent activity is alleged to have occurred between October 2006 and June 2008.
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5/10/2011
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SECURITIES COMMISSIONER ORDERS TEXAS MAN TO STOP SELLING UNREGISTERED SECURITIES IN COLORADO Denver, Colorado --- Colorado Securities Commissioner Fred Joseph announced today that he has entered a final cease and desist order against a Texas man for allegedly violating the securities registration provisions of the Colorado Securities Act (“Act”) in connection with the offer of securities in and from Colorado. Named in the Order is Brian Creamer, who was doing business as Re-Cycles Motorsports, located in West Detroit, Texas.
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4/11/2011
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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 for allegedly violating the securities registration and licensing provisions of the Colorado Securities Act (“Act”) in connection with the offer of securities in and from Colorado. Named in the Order are The Mieka Corporation, operating out of Dallas, Texas, its managing director, Daro Blankenship, and Stephen Romo, one of Mieka’s sales agents, both also of the Dallas area.
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3/15/2011
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Colorado Securities Commissioner Agrees to Auction Rate Securities Settlement with Morgan Stanley & Co. Incorporated Colorado Securities Commissioner Fred Joseph announced today the entry of a Consent Order that finalizes the terms of settlement between the Colorado Division of Securities and Morgan Stanley & Co. Incorporated. Under the settlement agreement, Morgan Stanley agreed to buy back in excess of $127 million worth of auction rate securities from Colorado investors who found themselves unable to sell their securities after they had been frozen in the auction rate securities ("ARS") market.
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3/7/2011
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HEALTHCARE TECHNOLOGY 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 Tennessee healthcare information technology company and its management for allegedly 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 The iPractice Group, Inc., (“iPractice”) and its chief executive officer, Ting N. Chang, its chief operating officer, Michael Jason Morgan, and one of its sales agents, Colin Purcell. All are of Nashville, Tennessee.
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2/16/2011
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CALIFORNIA REAL ESTATE 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 Sherman Oaks, California real estate company for allegedly violating the securities registration 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 Advantage Property Ventures, L.P., and two of its managers, Shawn Wikoff and Paul J. Petonak, both of Sherman Oaks, California.
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2/15/2011
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CALIFORNIA MOVIE PRODUCTION 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 two California companies and their manager for allegedly 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 Poker Junkies Productions, LLC, Abundance Entertainment, LLC, and their principal manager, John Hermansen, all of Los Angeles, California.
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1/12/2011
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Colorado Securities Commissioner Agrees to Auction Rate Securities Settlement with Goldman, Sachs & Co. Colorado Securities Commissioner Fred Joseph announced today the entry of a Consent Order that finalizes the terms of settlement between the Colorado Division of Securities and Goldman, Sachs & Co. Under the settlement agreement, Goldman Sachs agreed to buy back in excess of $5 million worth of auction rate securities from Colorado investors who found themselves unable to sell their securities after they had been frozen in the auction rate securities ("ARS") market.
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1/6/2011
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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 company, its president, and a sales agent who offered the company’s securities in Colorado 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 Langley Energy, Inc., its president, Mike W. Langley, both from Dallas, Texas, and one of its salesmen, Michael R. Murphy, from McKinney, Texas.
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