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Enforcement News

A list of news releases related to our enforcement activities.

Results 1 - 10  (23 total results)

  • Registered Securities Agent and Financial Advisor Pleads Guilty to Defrauding at Least 24 Victims for More Than $980,000
    October 17, 2014 - United States Attorney Andrew M. Luger today announced the guilty plea of SUSAN ELIZABETH WALKER, 50, for abusing her position of trust as a registered securities agent and financial advisor to steal nearly $1 million from at least 24 victims.
  • Misleading Memberships: Commerce Department Fines Company for Duping Consumers into Buying Bogus Medical Discount Plans
    October 14, 2014 - SAINT PAUL, MN – The Minnesota Department of Commerce has charged a New York-based company with tricking Minnesota consumers into buying substandard health insurance plans.
  • Defendant Pleads Guilty to Defrauding Investors for more than $10 million in Small Appliance Resale Scheme
    October 10, 2014 - United States Attorney Andrew M. Luger today announced the guilty plea of TYRONE HERMAN, 55, of St. Anthony, Minn., for defrauding investors for more than $19 million. HERMAN, who was charged by information on September 9, 2014, pleaded guilty today before Untied States District Judge Joan N. Ericksen.
  • Minnesota Department of Commerce investigation results in restitution for victims of life insurance scam
    October 08, 2014 - SAINT PAUL, MN – In response to a Minnesota farmer’s complaint alleging that Larry Chinn and Financial Institution Consulting Corporation mislead consumers and promoted unsuitable insurance policies, the Minnesota Department of Commerce initiated an investigation into the practices and issued a Consent Order barring both Chinn and the company from the sale of any premium financed life insurance products in the state.
  • Commerce Department Investigation Unearths Multiple Allegations against Criminal Coin Dealer
    August 13, 2014 - SAINT PAUL, MN – A Minnesota Department of Commerce investigation of Wholesale Assets Worldwide, LLC (WAW), a company engaged in coin and precious metal dealings, and Dennis Charles Helmer has been cited in an indictment by the United States Attorney on 19 counts of wire fraud. This is the first significant investigation into allegations of bullion coin-related criminal conduct since the State of Minnesota was the first to pass legislation in 2013 to clean up various segments of the coin industry that has been plagued with unscrupulous business practices.
  • Investment Advisor Indicted for Defrauding Investors for more than $10 Million
    August 06, 2014 - United States Attorney Andrew M. Luger today announced the indictment of SEAN MEADOWS, 41, for using his financial planning and asset management firm, Meadows Financial Group (MFG), to operate a Ponzi scheme and fraudulently obtain at least $10 million from at least 50 victims. The defendant is charged with Mail Fraud, Wire Fraud, and Money Laundering offenses. The charges contained in the indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty.
  • Commerce Department takes action and fines investment advisor operating a Ponzi-scheme targeting elderly investors
    July 23, 2014 - SAINT PAUL, MN – The Minnesota Department of Commerce ordered Mark Holt, a licensed investment advisor, insurance agent, and attorney, to stop engaging in securities related activity and to pay a $300,000 civil penalty for defrauding multiple investors, many of whom are senior citizens, as part of a Ponzi scheme. The findings of fact issued by the Department allege that Holt misled his clients, usually retirees and the elderly who indicated that they specifically invested their money with him due to his standing as a licensed attorney.
  • Commerce Commissioner orders Legal Helpers to pay $187,500 in restitution to Minnesota consumers
    June 30, 2014 - SAINT PAUL, MN – The Minnesota Department of Commerce consent order signed recently requires Chicago-based Legal Helpers Debt Resolution, LLC (LHDR) and its subsidiaries to pay Minnesota consumers $187,500 in restitution for unauthorized and unregistered debt settlement in Minnesota.
  • Minnesota Commerce Department Settles with Fourth Oil Company to Return Money Back to the State
    June 09, 2014 - Commerce Commissioner Mike Rothman today finalized the fourth settlement agreement as part of an investigation of improper insurance claims made by oil companies to clean up contaminated sites. The $100,000 settlement with Sunoco and the previous settlements Chevron, Exxon Mobil, and ConocoPhillips total $7.525 million to be returned to Minnesota’s Petroleum Tank Release Cleanup Fund (Petrofund).
  • Commerce Department Takes Action against Scam Mortgage Company
    March 24, 2014 - SAINT PAUL, MN – The Minnesota Department of Commerce filed an order to show cause and statement of charges against Mortgage Investors Corporation, also known as Veterans Information Department,,, and for allegedly engaging in fraudulent, deceptive, and dishonest practices to refinance veterans’ residential mortgage loans in violation of Minnesota law.
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