Michigan Securities Enforcement

BlockFi Lending LLC - Consent Order for Unregistered Securities

The Michigan Corporations, Securities, and Commercial Licensing Bureau issued a consent order against BlockFi Lending LLC (ENF-22-020040) for violating state securities laws by offering and selling unregistered BlockFi Interest Accounts (BIAs) to Michigan residents. BlockFi agreed to cease and desist all BIA sales in the United States and contribute $50 million to a multistate settlement distributed equally among 53 jurisdictions.

NYPPEX LLC Broker-Dealer Registration Revocation

The Michigan Department of Licensing and Regulatory Affairs issued a Final Order immediately revoking NYPPEX LLC's broker-dealer registration (CRD # 47654) effective upon mailing in December 2022. The revocation was authorized under sections 412(2), (4)(d), and (4)(e)(i) of the Michigan Uniform Securities Act (2002). The company is prohibited from engaging in any broker-dealer activities in Michigan until it obtains proper registration and demonstrates full compliance with the order.

Crowd Freak, LLC - Notice and Order to Cease and Desist

The Michigan Department of Licensing and Regulatory Affairs has issued a Notice and Order to Cease and Desist against Crowd Freak, LLC for offering and selling unregistered securities. The company is not registered with the state and has not identified any relevant exemptions from registration requirements.

CREO Global Capital LLC and Peter Savarino - Consent Order

The Michigan Department of Licensing and Regulatory Affairs has issued a Consent Order against CREO Global Capital LLC and Peter Savarino for alleged violations of securities regulations. The order requires them to pay a $1,000 civil fine and engage a consultant to review their policies and procedures.

Larry Holley - Fine Payment Instructions and Consent Order

The Michigan Department of Licensing and Regulatory Affairs has issued fine payment instructions and a consent order related to Larry Holley's unregistered securities activities. The total fine for Larry Holley has been reduced to $40,000.00, payable after the SEC receivership closes.

Ascend Removal Services LLC Cease and Desist Order

The Michigan Department of Licensing and Regulatory Affairs has issued a Cease and Desist Order against Damarious Johnson and Ascend Removal Services LLC for operating a removal service without the required state license. The order requires immediate cessation of unlicensed activities.

TradeStation Crypto Inc. Consent Order for Securities Violations

TradeStation Crypto, Inc. (TCI) has entered into a consent order with 51 jurisdictions, including Michigan, resolving an investigation into its digital asset interest feature. TCI will pay $1.5 million in settlement payments and cease offering unregistered securities.

New Haven Capital Holdings LLC - Cease and Desist Order and Fine Payment

The State of Michigan has issued a Notice and Order to Cease and Desist against New Haven Capital Holdings, L.L.C. and Scott Richard Rookus for violations of the Michigan Uniform Securities Act. The order includes instructions for paying a $1,000,000 fine by May 16, 2017.

Scott Richard Rookus - Cease and Desist Order and Fine

The Michigan Department of Licensing and Regulatory Affairs issued a Notice and Order to Cease and Desist against New Haven Capital Holdings, L.L.C. and Scott Richard Rookus for violating the Michigan Uniform Securities Act. A fine of $1,000,000 was due by May 16, 2017.

Legacy Cremation Services LLC - Cease and Desist Order

The Michigan Department of Licensing and Regulatory Affairs has issued a Cease and Desist Order against Legacy Cremation Services, LLC for engaging in the practice of mortuary science without a license. The order requires the company to immediately stop all unlicensed activity within the state.