Friday, May 4, 2018

Update in NC Secretary of State's $2+mil securities case re: anti-choking device company


For background see my March 26 item, "Growing pains" for company selling anti-choking device? NC state "investment scheme" investigation & three debt collection lawsuits, one filed by former top executive.

According to the website of Dechoker LLC, the company has moved from Concord, North Carolina to Denver, Colorado. 

Updates via the North Carolina Secretary of State Securities Division:
On April 17, 2018, Alan Carver and Dechoker, LLC entered into a Consent Order with the Deputy Securities Administrator agreeing to cease offering unregistered securities and acting as unregistered dealers/salesmen in North Carolina. Click here to view the Consent Order. Also on April 17, 2018, the Deputy Securities Administrator entered a Final Order against Russell Wadell, Mark Shores, and Mark Honeycutt making permanent the Temporary Cease and Desist Order in the matter of Dechoker, LLC, Alan Carver, Russell Wadell, Mark Shores, and Mark Honeycutt entered on February 15, 2018. Click here to view the Final Order.
Via the same web page:
A summary cease & desist order is issued by the Securities Division when it appears that ongoing activity violates the North Carolina Securities Act or the North Carolina Investment Advisers Act and poses the threat of irreparable harm to the investing public. The cease & desist order commands those who receive it to stop any further violations and to comply with the requirements of the securities laws. At the time of issuance of a summary order, the persons named in the order have not had the opportunity to respond to its allegations. The order notifies those persons that they may request a hearing on whether the allegations are true. If no hearing is requested, the Division will issue a final order confirming the allegations as true. A final order terminates the controversy between the parties and concludes the issues in the proceeding, unless and until it is vacated or set aside. 
I. Here's the April 17 Consent Order with a couple of screenshots:

II. Here's the April 17 Final Order with a couple of screenshots: