DOB: News Bulletin 1916 - November 10, 2000

The Department of Banking News Bulletin 

Bulletin # 1916
Week Ending November 10, 2000

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to John P. Burke, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail to john.burke@ct.gov. Written comments will be considered only if they are received within ten days from the date of this bulletin.


MERGER

On November 8, 2000, pursuant to Section 36a-126 of the Connecticut General Statutes, the Banking Commissioner approved the merger of Nutmeg Federal Savings and Loan Association with and into NewMil Bank (formerly New Milford Savings Bank).

SECURITIES AND BUSINESS INVESTMENTS DIVISION
Texas Firm Ordered to Cease and Desist from Securities Violations;
Notice of Intent to Fine Issued

On November 7, 2000, the Banking Commissioner entered an Order to Cease and Desist and Notice of Intent to Fine against Ameritech Petroleum, Inc. of 16775 Addison Road, #335, Addison, Texas, and 16901 Dallas Parkway, Suite 111, Dallas, Texas. The action was based on allegations that from at least November 1996, the corporation sold unregistered non-exempt notes to Connecticut investors through at least four unregistered agents of issuer in violation of the Connecticut Uniform Securities Act. Respondent was provided with an opportunity to request a hearing on the Order to Cease and Desist. A hearing on the Notice of Intent to Fine has been scheduled for December 27, 2000.

Canadian Firm Ordered to Cease and Desist
from Regulatory Violations; Notice of Intent to Fine Issued

On November 7, 2000, the Banking Commissioner entered an Order to Cease and Desist and Notice of Intent to Fine against Canko Environmental Technologies, Inc. of 10458 Mayfield Road, #206, Edmonton, Alberta, Canada. The action was predicated on claims that from at least November 1997, the corporation sold unregistered non-exempt notes to Connecticut investors through at least two unregistered agents of issuer in violation of the Connecticut Uniform Securities Act. Respondent was provided with an opportunity to request a hearing on the Order to Cease and Desist. A hearing on the Notice of Intent to Fine has been scheduled for December 27, 2000.

Notice of Intent to Issue a Stop Order Denying Effectiveness
to Business Opportunity Registration Issued

On November 7, 2000, the Banking Commissioner issued a Notice of Intent to Issue a Stop Order denying effectiveness to the pending business opportunity registration of Communications Marketing Associates, Inc. The corporation maintains its principal office at One Park Place, 621 N.W. 53rd Street, Suite 355, Boca Raton, Florida. The Notice maintained that the Respondent, a seller of payphone equipment packages, filed a materially incomplete application for business opportunity registration. Respondent was afforded an opportunity to request a hearing on the allegations.

Ordered to Cease and Desist; Notice of Intent to Fine

On November 7, 2000, the Banking Commissioner entered an Order to Cease and Desist and Notice of Intent to Fine against Redbank Petroleum, Inc. of 16901 Dallas Parkway, Suite 111, Dallas, Texas. The action was based on claims that from at least April 1998, the corporation sold unregistered non-exempt notes to Connecticut investors through at least four unregistered agents of issuer in violation of the Connecticut Uniform Securities Act. Respondent was provided with an opportunity to request a hearing on the Order to Cease and Desist. A hearing on the Notice of Intent to Fine has been scheduled for December 27, 2000.

North Carolina Firm Ordered to Halt Sales of Unregistered
Promissory Notes; Notice of Intent to Fine Issued

On November 7, 2000, the Banking Commissioner entered an Order to Cease and Desist and Notice of Intent to Fine against South Mountain Resort and Spa, Inc. of 930 Queens Road, Charlotte, North Carolina. The Order to Cease and Desist and the Notice of Intent to Fine alleged that from at least November 1997, the corporation sold unregistered non-exempt notes to Connecticut investors through at least two unregistered agents of issuer in violation of the Connecticut Uniform Securities Act. Respondent was provided with an opportunity to request a hearing on the Order to Cease and Desist. A hearing on the Notice of Intent to Fine has been scheduled for December 27, 2000.

Delaware Firm Ordered to Cease and Desist from
Securities Violations; Notice of Intent to Fine Issued

On November 7, 2000, the Banking Commissioner entered an Order to Cease and Desist and Notice of Intent to Fine against Sweetwater Development Corporation of 5001 Silverside Road, Suite 113, Wilmington, Delaware. The action was based on allegations that from at least November 1998, the corporation sold unregistered non-exempt notes to Connecticut investors through at least two unregistered agents of issuer in violation of the Connecticut Uniform Securities Act. Respondent was provided with an opportunity to request a hearing on the Order to Cease and Desist. A hearing on the Notice of Intent to Fine has been scheduled for December 27, 2000.

Indiana Firm Ordered to Cease and Desist from
Regulatory Violations; Notice of Intent to Fine Issued

On November 7, 2000, the Banking Commissioner entered an Order to Cease and Desist and Notice of Intent to Fine against Yucatan Investment Corp. of 711 South Michigan Street, LaPaz, Indiana. The Order to Cease and Desist and the Notice of Intent to Fine claimed that from at least August 1998, the corporation sold unregistered non-exempt notes to Connecticut investors through at least one unregistered agent of issuer in violation of the Connecticut Uniform Securities Act. Respondent was provided with an opportunity to request a hearing on the Order to Cease and Desist. A hearing on the Notice of Intent to Fine has been scheduled for December 27, 2000.

Notice of Intent to Deny Broker-dealer Registration and
Notice of Intent to Fine Issued;
Firm Ordered to Cease and Desist from Regulatory Violations

On November 8, 2000, the Banking Commissioner entered an Order to Cease and Desist, Notice of Intent to Deny Registration as Broker-dealer and Notice of Intent to Fine against F1 Trading.com Inc., formerly known as Gold Country Securities. The firm maintains its principal office at 600 Old Country Road, Suite 535, Garden City, New York. The action was based on claims that 1) from at least September 1999 to June 2000, the firm transacted business as a broker-dealer absent registration under the Connecticut Uniform Securities Act; and 2) in conjunction with its broker-dealer application, the firm filed false or misleading information concerning the extent of its prior broker-dealer activity. Respondent was afforded an opportunity to request a hearing on the Order to Cease and Desist and the Notice of Intent to Deny Registration as Broker-dealer. A hearing on the Notice of Intent to Fine has been scheduled for January 2, 2001.

Alabama Firm Ordered to Cease and Desist from Securities Violations;
Notice of Intent to Fine Issued

On November 8, 2000, the Banking Commissioner entered an Order to Cease and Desist and Notice of Intent to Fine against Chemical Trust of 130 Wildwood Parkway, Suite 108, Birmingham, Alabama. The action was based on allegations that from at least August 1999, Chemical Trust sold unregistered non-exempt notes to Connecticut investors through at least one unregistered agent of issuer in violation of the Connecticut Uniform Securities Act. Respondent was provided with an opportunity to request a hearing on the Order to Cease and Desist. A hearing on the Notice of Intent to Fine has been scheduled for December 27, 2000.

Dated: Tuesday, November 14, 2000

John P. Burke
Banking Commissioner