2008 Administrative Orders
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Under the Securities Act, RCW 21.20, the Franchise Act, RCW 19.100, the Business Opportunity Act, RCW 19.110, and the Commodity Contract Act, RCW 21.30, the Securities Division may enter a Statement of Charges or Summary Order to Cease and Desist when it has reason to believe that the law has been or is being violated, it appears that a proceeding is in the public interest and, in the case of a summary order, it appears that an emergency exists. Respondents have the right to request an administrative hearing or, alternatively, to submit a written statement in response to the matters alleged or tentatively found and ordered. Statements of Charges or Summary Orders appearing on this web site may be subject to an administrative hearing or further proceedings under the Administrative Procedures Act, RCW 34.05.
See Administrative Actions for Escrow enforcement actions commenced before September 1, 2003 and after July 1, 2006.
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Arlan Galbraith and Pigeon King International, Inc. – S-08-040-08-CO01 - Consent Order
On May 2, 2008, the Securities Division entered a Consent Order with Arlan Galbraith and Pigeon King International, Inc. (collectively “Respondents”). The Securities Division had previously entered a Statement of Charges (S-08-040-08-SC01) against Respondents. The Statement of Charges alleged that Respondents offered a business opportunity to own and operate a pigeon breeding stock business while not registered as a business opportunity under the Washington State Business Opportunity Fraud Act. Respondents neither admitted nor denied the Findings of Fact and Conclusions of Law, but they agreed to cease and desist from violating the registration and anti-fraud provisions of the Business Opportunity Fraud Act of Washington. Respondents also agreed to pay $1000 for investigative costs. Respondents each waived their right to a hearing and to judicial review of the matter.
On April 22, 2008, the Securities Division entered into a Consent Order with Day-By-Day Gourmet, LLC. (Consent Order No. S-07-469-08-CO01) in settlement of a prior Statement of Charges and Notice of Intent to Enter Stop Order Revoking Registration entered on December 31, 2007. Day-By-Day Gourmet, LLC is the seller of franchises that entail the retail sale of deli items as well as pre-assembled meals and other items for customers to take home to finish preparing. The Division had alleged in the Statement of Charges that the company had failed to disclose in its franchise registration documentation that its Chief Executive Officer is the subject of a previous Securities Division Consent Order (Consent Order Number S-05-236-06-CO01 in the matter of Alternative Capital, LLC and Bradford Vorhees entered November 13, 2006) to settle allegations that the named respondents violated the investment adviser and investment adviser representative registration requirements of the Securities Act of Washington. Day-By-Day Gourmet, LLC, among other things, agreed in the Consent Order to disclose this matter in registration documentation and to the company’s employees and agents who offer the franchise as well as to reimburse the Securities Division $700 for its costs of investigation. Day-By-Day Gourmet, LLC also waived its right to a hearing or other further proceedings in the matter.
On April 22, 2008, the Securities Division entered a Consent Order with Patricia Weis. The Securities Division had previously entered a Statement of Charges (SC-08-011-08-SC01) against Corps Investment Group, LLC, Hezekiah Corppetts, Patricia Weis and Milton Johnson (collectively “Respondents”). The Statement of Charges alleged that Respondents offered a business opportunity to own and operate a mail-order classified advertising business system while not registered as a business opportunity under the Washington State Business Opportunity Fraud Act of Washington. Patricia Weis neither admitted nor denied the Findings of Fact and Conclusions of Law, but agreed to cease and desist from violating the registration and anti-fraud provisions of the Business Opportunity Fraud Act of Washington. Patricia Weis waived her right to a hearing and to judicial review of this matter.
On April 21, 2008, the Securities Division entered into a Consent Order with Donna Jean Parker (“Respondent”). The Securities Division had previously entered a Summary Order Suspending Securities Salesperson and Investment Adviser Representative Registration and Notice of Intent to Revoke Registration against Respondent on February 1, 2008. The Division alleged that Parker, while employed as a securities salesperson and investment adviser representative for Merrill Lynch, engaged in dishonest and unethical practices by forging signatures of employees at Merrill Lynch, forging the signature of a customer, converting $20,000 in customer funds, and executing a transaction on behalf of a customer without authorization to do so. Respondent neither admitted nor denied the Findings of Fact and Conclusions of Law. It was agreed and ordered that Respondent’s securities salesperson and investment adviser representative licenses shall be revoked. It was further agreed and ordered that Respondent shall not apply for registration as a broker-dealer, investment adviser, securities salesperson, or investment adviser representative for ten years from the date of entry of the Consent Order. The Respondent agreed to pay $2,000 for investigation costs. Respondent waived her right to a hearing and to judicial review of this matter.
Milton Johnson - S-08-011-08-CO02 - Consent Order
On April 16,
2008, the Securities Division entered a Consent Order with Milton
Johnson. The Securities Division had previously entered a Statement
of Charges (S-08-011-08-SC01)
against Corps Investment Group, LLC, Hezekiah Corppetts, Patricia
Weis and Milton Johnson (collectively “Respondents”). The Statement
of Charges alleged that Respondents offered a business opportunity
to own and operate a mail-order classified advertising business
system while not registered as a business opportunity under the
Washington State Business Opportunity Fraud Act of Washington.
Milton Johnson neither admitted nor denied the Findings of Fact and
Conclusions of Law, but agreed to cease and desist from violating
the registration and anti-fraud provisions of the Business
Opportunity Fraud Act of Washington. Milton Johnson waived his
right to a hearing and to judicial review of the matter.
Corps Investment Group, LLC and Hezekiah Corppetts - S-08-011-08-CO01 - Consent Order
On April 16, 2008, the Securities Division entered a Consent Order with Corps Investment Group, LLC and Hezekiah Corppetts. The Securities Division had previously entered a Statement of Charges (S-08-011-08-SC01) against Corps Investment Group, LLC, Hezekiah Corppetts, Patricia Weis and Milton Johnson (collectively “Respondents”). The Statement of Charges alleged that Respondents offered a business opportunity to own and operate a mail-order classified advertising business system while not registered as a business opportunity under the Washington State Business Opportunity Fraud Act of Washington. Corps Investment Group, LLC and Hezekiah Corppetts neither admitted nor denied the Findings of Fact and Conclusions of Law, but agreed to cease and desist from violating the registration and anti-fraud provisions of the Business Opportunity Fraud Act of Washington. Corps Investment Group, LLC and Hezekiah Corppetts agreed to pay $400 for investigation costs. Corps Investment Group, LLC and Hezekiah Corppetts each waived their right to a hearing and to judicial review of the matter.
Kevin P. Dilley, Respondent - S-07-392-08-SC01 - Statement of Charges
On April 9, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist, Charge Costs, and Impose Fines (“Statement of Charges”) against Kevin P. Dilley (“Respondent”). Respondent, a former registered securities salesperson in the State of Washington, received money from customers, did not make the promised investments, and failed to return their money. The Statement of Charges alleges that Respondent offered and sold unregistered securities in Washington State. The Statement of Charges further alleges that Respondent violated the registration and anti-fraud provisions of the Securities Act. Respondent has a right to request a hearing on the Statement of Charges.
Michael Kerner - S-08-014-08-SC01 - Statement of Charges
On April 7, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist and to Charge Costs against Michael Kerner (“Respondent”). Respondent offered and sold an investment in Taecan.com stock to at least one investor. Taecan.com Inc. was ostensibly a private internet start-up company involved in providing on-line services. Respondent received at least $50,000 from the investor. The Statement of Charges alleges that Respondent offered unregistered securities and acted as an unregistered broker-dealer or securities salesperson. The Statement of Charges further alleges that the offer and sale of securities by the Respondent violated the anti-fraud provisions of the Securities Act of Washington. The Securities Division intends to order Respondent to cease and desist from violating the Securities Act of Washington, and gives notice of its intent to recover costs. Respondent has a right to request a hearing on the Statement of Charges.
Arlan Galbraith and Pigeon King International, Inc. - S-08-040-08-SC01 - Statement of Charges
On March 19, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist (“Statement of Charges”) against Arlan Galbraith and Pigeon King International, Inc. (collectively “Respondents”). The Statement of Charges alleges that Respondents offered a business opportunity to own and operate a pigeon breeding stock business while not registered as a business opportunity under the Washington State Business Opportunity Fraud Act of Washington. The Securities Division intends to order Respondents to cease and desist from violating the registration, disclosure and anti-fraud provisions of the Business Opportunity Fraud Act of Washington. Respondents have a right to request a hearing on the Statement of Charges.
A Consent Order was entered in this matter on May 2, 2008.
American Fiber Green Products and Ken McCleave, Respondents - S-05-193-07-FO01 - Final Order
On March 13, 2008, the Securities Division entered Findings of Fact and Conclusions of Law and Final Order to Cease and Desist and to Impose Fines. The Securities Division had previously entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist and Impose Fines (“Statement of Charges”) against American Fiber Green Products and Ken McCleave (“Respondents”). S-05-193-07-SC02. The Statement of Charges alleged that American Fiber Green Products, which purportedly manufactured products out of recycled fiberglass using a patented process, held three meetings in King County where it offered and sold shares of American Fiber Green Products to Washington residents. The Statement of Charges further alleged that Respondents violated the registration and anti-fraud provisions of the Securities Act when offering and selling the securities. Respondents may seek judicial review of the matter.
William Doman - S-06-085-07-SC01 - Statement of Charges
On March 13, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order To Suspend Securities Salesperson License, To Impose Fines and To Charge Costs (“Statement of Charges”) against William Doman (“Respondent”). The Statement of Charges alleges that in a two year period Respondent offered and sold to customers, some of whom were elderly, variable annuities through the means of unsuitable recommendations and misrepresentations of facts. It is also alleged that Respondent failed to disclose true and complete information on variable annuity product applications and annuity replacement forms. The Statement of Charges alleges that Respondent violated the licensing, suitability, and anti-fraud provisions of the Securities Act while offering these securities. Respondent has a right to request a hearing on the Statement of Charges.
Glen Stroud, Dan Hammond, Interlake Chemicals International Ltd. Corp. - S-07-293-07-CO01 - Consent Order.
On March 12, 2008, the Securities Division entered into a Consent Order with Glen Stroud, Dan Hammond, and Interlake Chemicals International Ltd. Corp. (collectively “Respondents”). The Securities Division had previously entered a Statement of Charges against Respondents, S-07-293-07-SC01, on December 3, 2007. The Division alleged that Respondents offered and sold two business opportunities while not registered under the Business Opportunity Fraud Act of Washington. The Securities Division further alleged that Respondents violated the disclosure document and anti-fraud provisions of the Business Opportunity Fraud Act of Washington. Respondents neither admitted nor denied the Findings of Fact and Conclusions of Law, but agreed to cease and desist from violating the registration, disclosure document, and anti-fraud provisions of the Business Opportunity Fraud Act of Washington. The Respondents agreed to pay $1,200 for investigation costs. Respondents each waived their right to a hearing and to judicial review of the matter.
United Business Solutions, Inc. dba UBS Group, Inc.; Johnathan Ahlf - S-07-244-08-SC02 - Amended Statement of Charges
On March 10, 2008, the Securities Division entered an Amended Statement of Charges and Notice of Intent to Issue an Order to Cease and Desist (“Amended Statement of Charges”), which amended the Statement of Charges S-07-244-07-SC01 entered on October 8, 2007 against United Business Solutions, Inc. dba UBS Group, Inc. and Johnathan Ahlf (collectively “Respondents”). The Statement of Charges was amended to include a second purchaser of the UBS Group, Inc. opportunity and it was modified to reflect that Ahlf is believed to be the CEO and/or President of UBS Group, Inc. The Amended Statement of Charges alleges that Respondents sold an unregistered tax recovery and related business services franchise opportunity to two Washington State residents. The Amended Statement of Charges further alleges that Respondents failed to disclose material information concerning the franchise opportunity, Respondent Ahlf misrepresented that the franchise was registered in Washington, and Respondent Ahlf did not provide a reasonable basis upon which projections for earnings were based. The Securities Division intends to order Respondents to cease and desist from violating the registration, anti-fraud, and disclosure do
Ward R. Brown dba Pacific Sales; Janice R. Brown dba Lavender House;
Brown’s Antiques and Furnishings; Ward R. Brown; Janice R. Brown -
S-07-170-07-SC01
- Statement of Charges.
On March 7, 2008, the Securities Division entered a Statement of
Charges and Notice of Intent to Issue an Order to Cease and Desist
and Recover Costs against Ward R. Brown dba Pacific Sales; Janice R.
Brown dba Lavender House; Brown’s Antiques and Furnishings; Ward R.
Brown; and Janice R. Brown (collectively “Respondents”). The
Statement of Charges alleges that Respondents offered and sold
investments, in the form of promissory notes, to at least five
Washington residents. Respondents raised at least $856,670.67, which
was used to finance two antique stores and at least two adult family
homes. The Statement of Charges alleges that Respondents offered
unregistered securities, acted as unregistered broker-dealers or
securities salespersons, and violated the anti-fraud provisions of
the Securities Act of Washington. The Securities Division ordered
Respondents to cease and desist from violating the securities
registration, broker-dealer and/or securities salesperson
registration and anti-fraud provisions of the Securities Act of
Washington. The Securities Division gave notice of its intent to
charge costs. Respondents have a right to request a hearing on the
Statement of Charges.
Stevens Coffee Company LLC dba Java Girls tm; Steven McDaniel, S-07-560-08-SC01 - Statement of Charges
On March 7, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Issue an Order to Cease and Desist against Stevens Coffee Company LLC dba Java Girls tm and Steven McDaniel (collectively “Respondents”). The Statement of Charges alleges that Respondents offered a coffee franchise using the trade-marked name Java Girls to at least three Washington residents while not registered under the Franchise Investment Protection Act of Washington. The Statement of Charges further alleges that Respondents violated the anti-fraud provision of the Franchise Investment Protection Act of Washington in connection with the offer of the franchise. The Securities Division intends to order Respondents to cease and desist from violating the registration and anti-fraud provisions of the Franchise Investment Protection Act of Washington. Respondents have a right to request a hearing on the Statement of Charges.
Dale E. Bohnet, Braggdisc Incorporated, and Braggdisk, Inc. - S-07-006-08-FO01 - Final Order
On March 4, 2008, the Securities Division entered a Final Order to Cease and Desist, Bar Registrations, and Impose Fines against Dale E. Bohnet, Braggdisc Incorporated, and Braggdisk, Inc. (collectively “Respondents”). The Division previously entered a Statement of Charges in the same matter on October 11, 2007. Respondents engaged in the business of marketing sales presentation compact disks to mortgage and insurance companies. Respondents raised at least $140,000 from at least five investors, by offering and selling unregistered promissory note and ownership interest investments. Respondent Bohnet acted as an unregistered broker-dealer or securities salesperson. The offer and sale of securities by the Respondents violated the anti-fraud provisions of the Securities Act of Washington. The Securities Division orders the Respondents to cease and desist from violating the Securities Act of Washington and bars any future securities registration. The Division also orders Respondent Bohnet to pay a fine of $20,000. Respondents failed to request a hearing on the Statement of Charges. Respondents have a right to request judicial review of this matter.
New Wave Marine Propulsion, Inc. and Joseph Mueller, dba New Wave
Propulsion – S-08-043-08-SC01 – Statement of Charges
On March 4, 2008, the Securities Division entered a Statement of Charges
to Cease and Desist and Notice of Intent to Charge Costs against New
Wave Marine Propulsion, Inc. and Joseph Mueller d/b/a New Wave
Propulsion (collectively “Respondents”). Respondents solicited
Washington investors by placing advertisements on the internet. The
Statement of Charges alleges that Respondents offered and/or sold
securities in the form of investment contracts or promissory notes. The
Statement of Charges further alleges that Respondents told potential
investors the money would be used for travel and legal expenses in order
to close a deal selling the rights to a marine system developed to
increase navigational range and gas mileage. The Statement of Charges
further alleges that Respondents violated the registration and
anti-fraud provisions of the Securities Act while offering and/or
selling the securities. Respondents have a right to request a hearing on
the Statement of Charges.
Corey Pritchett – S-08-060-08-SC01 – Statement of Charges
On February 25, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist, Impose Fines and Charge Costs against Corey Pritchett (“Respondent”). Respondent offered and sold a real estate related investment in the form of a promissory note to at least one Washington resident. Respondent raised at least $2,000 from Washington investors. The Statement of Charges alleges that Respondent offered unregistered securities and acted as an unregistered broker-dealer or securities salesperson. The Statement of Charges further alleges that the offer and sale of securities by the Respondent violated the anti-fraud provisions of the Securities Act of Washington. The Securities Division intends to order Respondent to cease and desist from violating the Securities Act of Washington, and gives notice of its intent to collect fines and recover costs. Respondent has a right to request a hearing on the Statement of Charges.
Bernie Day - S-07-044-07-CO03 - Consent Order
On February 25, 2008, the Securities Division entered a Consent Order with Bernie Day. The Securities Division had previously entered a Statement of Charges against Respondent, Order S-07-044-07-SC02 against EZ Show, Inc., Bernie Day, and Gordon L. Powers Jr. (“Respondents”) on August 20, 2007. The Statement of Charges alleged that Respondents offered and sold securities and a franchise opportunity in Washington State. The Statement of Charges further alleged that Respondents violated the registration and anti-fraud provisions of the Securities Act and the Franchise Investment Protection Act and the disclose provision of the Franchise Investment Protection Act while offering and selling the securities and the franchise opportunity. Respondent Day neither admitted nor denied the allegations, but agreed to cease and desist from violating the registration and anti-fraud provisions of the Securities Act and the Franchise Investment Protection Act and the disclose provision of the Franchise Investment Protection Act. Respondent Day waived her right to a hearing and judicial review of the matter.
Corps Investment Group, LLC; Hezekiah Corppetts; Patricia Weis and Milton Johnson – S-08-011-08-SC01 – Statement of Charges
On February 25, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist (“Statement of Charges”) against Corps Investment Group, LLC; Hezekiah Corppetts; Patricia Weis and Milton Johnson (collectively “Respondents”). The Statement of Charges alleges that Respondents offered a business opportunity to own and operate a mail-order classified advertising business system while not registered as a business opportunity under the Washington State Business Opportunity Fraud Act of Washington. The Securities Division intends to order Respondents to cease and desist from violating the registration, disclosure and anti-fraud provisions of the Business Opportunity Fraud Act of Washington. Respondents have a right to request a hearing on the Statement of Charges.
Poulson Investing, LLC; Joshua Poulson and Mayela Poulson - S-07-565-08-SC01 – Statement of Charges
On February 25, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist, Impose Fines and Charge Costs against Poulson Investing, LLC, Joshua Poulson and Mayela Poulson (collectively “Respondents”). The Statement of Charges alleges that Respondents offered and sold securities in the form of promissory notes. Respondents told investors that they would earn 2% per month and that the investments would be secured by real estate. Respondents raised at least $90,000 from at least 3 Washington investors. The Statement of Charges further alleges that Respondents violated the registration and anti-fraud provisions of the Securities Act while offering and selling said securities. Respondents have a right to request a hearing on the Statement of Charges.
CANUSA Capital, LLC; Ross Paterson; and Victoria Mallahan - S-07-393-08-FO01 - Final Order
On February 12, 2008, the Securities Division entered Entry of Findings of Fact and Conclusions of Law and Final Order to Cease and Desist and Notice of Intent to Impose Fines and Charge Costs as to CANUSA Capital, LLC; Ross Paterson; and Victoria Mallahan (“Final Order”). The Securities Division had previously entered a Summary Order in the same matter on December 27, 2007. The Summary Order alleged that Respondents offered and sold securities in the form of investment contracts or promissory notes in Washington State told investors the money would be invested in real estate. The Summary Order further alleged that Respondents violated the registration and anti-fraud provisions of the Securities Act while offering the securities. CANUSA Capital, LLC and Ross Paterson have a right to request judicial review of the Final Order. This matter is still pending as to Respondent Victoria Mallahan.
M & W Charitable Foundation, M & W Charitable Trust, The Clarke 2001 Subscriber Trust, Russell F. Kenaga, Jr., and Victor Clarke Respondents; - S-04-187-08-FO01 - Final Order
On February 12, 2008, the Securities Division entered a Final Order against M & W Charitable Foundation, M & W Charitable Trust, The Clarke 2001 Subscriber Trust, Russell F. Kenaga, Jr., and Victor Clarke (collectively “Respondents”). The Securities Division previously entered a Statement of Charges in the same matter on December 28, 2007. Between October 2000 and November 2001, Russell Kenaga, through M & W Charitable Foundation and M & W Charitable Trust, solicited investors for a high-yield investment program run by Victor Clarke called The Clarke 2001 Subscriber Trust. Respondents made material misrepresentations regarding the purported investment opportunity. The Securities Division orders Respondents to cease and desist from violating the Securities Act of Washington and to pay fines of $50,000 and costs of $2,000. Respondents have a right to request judicial review of this matter.
Legacy Capital Group Ltd., Pacific Capital Development LLC, Guy Beatty - S-05-015-06-CO01 - Consent Order
On February 12, 2008, the Securities Division entered into a Consent Order with Legacy Capital Group Ltd., Pacific Capital Development LLC, and Guy Beatty (collectively “Respondents”). The Securities Division had entered a Statement of Charges against the Respondents on September 9, 2005. The Division alleged that Guy Beatty offered and sold $50,000 of unregistered investments relating to Legacy Capital Group Ltd. and Pacific Capital Development LLC to a Washington state resident. The Division further alleged that the Respondents violated the anti-fraud provisions of the Securities Act of Washington. Respondents neither admitted nor denied the allegations, but agreed to cease and desist from violating the registration and anti-fraud provisions of the Securities Act. Respondents agreed to pay a fine of $5,000. Respondents waived their rights to a hearing and judicial review of the matter.
Michael James Gilhooly, RJJ Pasadena Securities, Inc. - S-07-466-07-SC01 - Statement of Charges
On February 6, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Issue an Order to Cease and Desist, Impose Fines and Charge Costs against Michael James Gilhooly and RJJ Pasadena Securities, Inc. (collectively “Respondents”). The Statement of Charges alleges that Respondents effected over an extended period of time the purchase and sale of securities in a customer’s account after the customer moved to the state of Washington, without being properly registered. The Securities Division ordered Respondents to cease and desist from violating the registration provisions of the Securities Act of Washington. The Securities Division gave notice of its intent to collect fines and charge costs. Respondents have a right to request a hearing on the Statement of Charges.
Global Aviation Fuel Systems and Bob (Neil) Necklewicz - S-08-002-08-SC01 - Statement of Charges
On February 1, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist, Impose Fines and Charge Costs against Global Aviation Fuel Systems and Bob (Neil) Necklewicz (collectively “Respondents”). Respondents offered an investment opportunity in their “Boeing Fuel Pump Inventory Investment Program” to at least one Washington resident. The Statement of Charges alleges that Respondents offered unregistered securities and acted as unregistered broker-dealers or securities salespersons. The Statement of Charges further alleges that offer or sale of securities by the Respondents violated the anti-fraud provisions of the Securities Act of Washington. The Securities Division intends to order Respondents to cease and desist from violating the Securities Act of Washington, and gives notice of its intent to collect fines and recover costs. Respondents have a right to request a hearing on the Statement of Charges.
Donna Jean Parker - S-07-230-08-TO01 - Summary Order Suspending Securities Salesperson and Investment Adviser Representative Registration and Notice of Intent to Revoke Registration
On February 1, 2008, the Securities Division entered a Summary Order Suspending Securities Salesperson and Investment Adviser Representative Registration and Notice of Intent to Revoke Registration against Donna Jean Parker (“Respondent”). The Summary Order tentatively finds that Parker, while employed as a securities salesperson and investment adviser representative for Merrill Lynch, engaged in dishonest and unethical practices by forging signatures of employees at Merrill Lynch, forging the signature of a customer, converting $20,000 in customer funds, and executing a transaction on behalf of a customer without authorization to do so. The Respondent has a right to request a hearing on the Summary Order.
WLOPT, Inc., World Online Poker Players Association, Steve Olinger - S-07-067-08-SC01 – Statement of Charges
On January 28, 2008, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist, Impose Fines, and Recover Costs against WLOPT, Inc., World Online Poker Players Association, and Steve Olinger (collectively “Respondents”). Respondents offered promissory notes and stock in an online gaming venture known as the World Online Poker Players Association or World’s Largest Online Poker Tournament. Respondents raised at least $5,500 from selling investments to at least two Washington residents. The Statement of Charges alleges that Respondents offered unregistered securities, acted as unregistered broker-dealers or securities salespersons, and violated the anti-fraud provisions of the Securities Act of Washington. The Securities Division intends to order Respondents to cease and desist from violating the Securities Act of Washington, and gave notice of its intent to collect fines and recover costs. Respondents have a right to request a hearing on the Statement of Charges.
JoAnn Jagroop and Coffee Times – S-07-363-07-CO01 – Consent Order
On January 16, 2008, the Securities Division entered into a Consent Order with JoAnn Jagroop and Coffee Times (collectively “Respondents”). The Securities Division had previously entered a Statement of Charges against Respondents, Order S-07-363-07-SC01. The Securities Division alleged that Respondents advertised on the internet a franchise opportunity that involved printing and distributing a local or district edition of the Coffee Times newspaper. The Securities Division further alleged that Respondents offered to sell an unregistered franchise opportunity to Washington residents. Respondents neither admitted nor denied the Findings of Fact and Conclusions of Law in entering into the Consent Order. However, it was agreed and ordered that Respondents should cease and desist from any violations of RCW 19.100.020, the registration section of the Franchise Investment Protection Act of the State of Washington. Respondents each waived their right to a hearing and to judicial review of the matter.
Keith Robertson - S-05-008-07-CO01 - Consent Order
On January 10, 2008, the Securities Division entered into a Consent Order with Keith Robertson. The Securities Division had entered a Statement of Charges against Michael Paloma, Pine Canyon Enterprises, Inc., and Keith Robertson on June 29, 2007. A Final Order was entered as to Michael Paloma and Pine Canyon Enterprises, Inc. on August 29, 2007. The Division alleged that Respondent Robertson made omissions or misleading statements of material fact in connection with advice provided to Courtside Products, Inc. for compensation concerning taking the company public. The Division alleged that Respondent Robertson acted as an unregistered investment adviser and violated the anti-fraud provisions of the Securities Act. Respondent Robertson neither admitted nor denied the allegations, but agreed to cease and desist from violating the registration and anti-fraud provisions of the Securities Act. Respondent Robertson agreed to pay a fine of $5,000. In addition, Respondent Robertson agreed not to apply for a license as an investment adviser, broker-dealer, investment adviser representative, or securities salesperson in the State of Washington for a period of two years. Respondent Robertson waived his right to a hearing and judicial review of the matter.
