Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Ohio Division of Securities February Enforcement Actions

The Ohio Department of Commerce Division of Securities ("Division") recently released a summary list of official actions taken during the month of February. The Division issued the following orders in February:

Amish Helping Fund The Division issued a Cease and Desist Order against the Amish Helping Fund on February 8, 2011. The Amish Helping Fund was an Ohio non-profit company which made construction and mortgage loans to Amish individuals and families in Northeast Ohio. The company violated the Ohio Securities Act by selling unregistered securities in the form of "Investment Agreements" to approximately 3,500 investors between 1995 and 2010. The company consented to the Cease and Desist Order.

MidSouth Capital, Inc. The Division issued a Notice of Opportunity for Hearing (NOH) to MidSouth Capital, Inc., an independent broker/dealer based in Atlanta, GA. The NOH alleged that MidSouth sold securities without being licensed as a dealer in Ohio on five occasions in January. MidSouth had submitted an application to the Division for a dealer license on January 4, 2011. (MidSouth consented to a Cease and Desist Order with the Division which was issued on March 16th - Division Order No.

Lochlainn Ohaimhirgin The Division issued a Cease and Desist Order against Mr. Ohaimhirgin for acting as an investment adviser without a license. Mr. Ohaimhirgin had previously been licensed as an investment adviser representative (IAR) in early 2005; he was again licensed as an IAR from mid-2006 to 2009. However, during a period of approximately one year (mid-2005 to mid-2006), Mr. Ohaimhirgin acted as an investment adviser without a license in violation of the Ohio Securities Act. Mr. Ohaimhirgin declined his right to a hearing.

Clint H. Keener The securities salesperson license and investment adviser representative license of Mr. Keener was suspended for ten days by the Division for numerous violations of the Ohio Securities Act and regulations of the Division. The suspension stems from allegations that he executed unauthorized trades, mismarked order tickets, and recommended unsuitable investments. Mr. Keener had previously been fined and suspended by FINRA for a period of two months in mid-2010 for the same conduct. Mr. Keener consented to the suspension by the Division.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram