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JKI Co. d/b/a Donutchew - Franchise Registration Violation Settlement

The Virginia State Corporation Commission accepted a settlement with JKI Company, Inc. d/b/a Donutchew for violations of the Virginia Retail Franchising Act. The company sold two franchises in Virginia without proper registration and failed to provide required disclosure documents. Donutchew will pay a $2,000 civil penalty and $1,000 in investigation costs. The settlement requires payment within specified deadlines and future compliance with franchise registration requirements.

SEC v. Mbunu - Securities Enforcement Case Dismissal

The Virginia State Corporation Commission entered a Final Order dismissing Case No. SEC-2024-00017 against Frankline Mbunu and Dedicated Frank Services, LLC. The defendants fulfilled all requirements of a prior Settlement Order entered August 1, 2024. The dismissal does not affect any duty to disclose or any other obligations.

UNLOCKD Inc Crypto Mining Securities Fraud Enforcement

Virginia State Corporation Commission Securities Division filed enforcement action Case No. SEC-2022-00032 against UNLOCKD, Inc. (formerly Capital Holdings, Inc.) and individuals Spencer Payne, Andrew Karras, and John Allen for securities fraud related to crypto mining operations. The Division alleges respondents made false misrepresentations to at least 30-47 investors about the company's mining business between August-December 2022, resulting in OTC stock sales. The Division requests civil penalties, permanent bars from securities offerings in Virginia, and additional remedies.