DOB: Ulysses Partners et al - Amended CD-Rest-NOIF

* * * * * * * * * * * * * * * * * *



IN THE MATTER OF:


ULYSSES PARTNERS, LLC

JAMES E. NEILSEN

CRD No. 4825841



 (Collectively "Respondents")




* * * * * * * * * * * * * * * * * * *

 
 
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*

AMENDMENT TO

ORDER TO CEASE AND DESIST

ORDER TO MAKE RESTITUTION

NOTICE OF INTENT TO FINE

AND

NOTICE OF RIGHT TO HEARING

DOCKET NO. CRF-13-8014-S

AMENDMENT

1. On January 9, 2014, the Banking Commissioner, acting pursuant to Chapter 672a of the General Statues of Connecticut and Section 36b-27 of the Connecticut Uniform Securities Act, issued an Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Fine and Notice of Right to Hearing (collectively “Order”).
  
2. Paragraph 11 of the Order is amended as follows:

 11.    From approximately November 2005 through approximately September 2011, in order to finance Ulysses’ business expenses, Neilsen, individually and/or on behalf of Ulysses, offered and sold approximately $10 million of securities to at least ten Connecticut investors, the majority of whom were Neilsen’s CPA clients.  Such securities took the form of promissory notes and investment agreements (“Ulysses Investments”), which securities were not registered in Connecticut under Section 36b-16 of the Act, nor were they exempt from registration under Section 36b 21 of the Act, nor were they the subject of a filed exemption claim or claim of covered security status.  Although Neilsen, on behalf of Ulysses, has partially repaid some of the investors, there is still an outstanding balance owed to investors of approximately $7 million dollars.
 

Dated at Hartford, Connecticut,       _______/s/__________ 
this 18th day of February 2014.   Howard F. Pitkin 
    Banking Commissioner 



CERTIFICATION

I hereby certify that on this 18th day of February 2014, the foregoing Amendment to Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Fine and Notice of Right to Hearing was sent by certified mail, return receipt requested, to Ulysses Partners, LLC, c/o Brian Woolf, Esq., Woolf Law Firm, LLC, 50 Founders Plaza, East Hartford, Connecticut 06108, certified mail no. 7012 3050 0002 1692 6446; and James E. Neilsen, c/o Brian Woolf, Esq., Woolf Law Firm, LLC, 50 Founders Plaza, East Hartford, Connecticut 06108, certified mail no. 7012 3050 0002 1692 6453.
 

____/s/___________
Elena Zweifler
Prosecuting Attorney

      
cc:    Stacey Serrano, Esq.
    Hearing Officer 
                                                                     
                                        


Administrative Orders and Settlements