DOB: News Bulletin 2161 - July 22, 2005

The Department of Banking News Bulletin
Bulletin # 2161
Week Ending July 22, 2005

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 Written comments will be considered only if they are received within ten days from the date of this bulletin.

State Credit Union Activity

Section 36a-145 of the Connecticut General Statutes requires that each application for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided. Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days. Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.

Date Bank Location Activity
7/14/05 Hudson United Bank
Mahwah, New Jersey
 FROM:   322 North Main Street
             West Hartford, CT  06107
 TO:       43 South Main Street
             West Hartford, CT  06107
filed to
7/18/05 People's Bank
* 50 Mall Road, Suite 212
  Burlington, MA
* Limited Branch - LPO


On July 19, 2005, pursuant to Section 36a-412(a)(2) and Section 36a-145(c)(1) of the Connecticut General Statutes, Amelia Family Trust Company, a limited purpose trust company organized under the banking laws of the State of New Jersey, received approval to establish a de novo limited branch to be located at 300 First Stamford Place, Third Floor, Stamford, Connecticut.

Florida Firm Ordered to Cease and Desist From Violating
Business Opportunity Law; Notice of Intent to Fine Issued

On July 13, 2005, the Commissioner issued an Order to Cease and Desist, Notice of Intent to Fine and Notice of Right to Hearing against Cambridge Coffee Company under the Connecticut Business Opportunity Investment Act. The company maintains its principal office at 1714 Avenida Del Sol, Boca Raton, Florida. The action alleged that, from at least February 6, 2005 forward, the respondent offered unregistered coffee distributorship business opportunities in violation of the state's business opportunity statute. The respondent was afforded 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 September 1, 2005.

Danbury Man Permanently Barred from Securities Activity in Connecticut

On July 19, 2005, the Commissioner entered a Consent Order with respect to Scott M. Radcliff of Danbury, Connecticut. The Consent Order claimed that Scott Radcliff violated 1) Section 36b-16 of the Connecticut Uniform Securities Act by selling unregistered, non-exempt interests in Golden Bananas!; 2) Section 36b-4(a)(2) of the Act by making material misstatements and omissions concerning the rate of return on the Golden Bananas! investment; and 3) Section 36b-6 of the Act by transacting business as an unregistered agent of issuer. In entering the Consent Order, the Commissioner acknowledged that Scott Radcliff had demonstrated economic hardship such that he could not pay the maximum fine that could have been imposed for the alleged misconduct. The Consent Order permanently barred Scott Radcliff from acting as a broker-dealer, investment adviser, broker-dealer agent, investment adviser agent or agent of issuer in Connecticut; directed that he cease and desist from regulatory violations; and required that he pay a $500 fine.

Dated: Tuesday, July 26, 2005

John P. Burke