SEC v. Mbunu - Securities Enforcement Case Dismissal
Summary
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.
What changed
The Virginia State Corporation Commission dismissed securities enforcement case SEC-2024-00017 against Frankline Mbunu and Dedicated Frank Services, LLC. The defendants satisfied all requirements of the original Settlement Order issued by the Division of Securities and Retail Franchising. The Final Order specifies that this dismissal does not affect any duty to disclose or any other order or obligation of any nature.
Compliance teams should note that this dismissal concludes the enforcement action with no ongoing requirements imposed on the defendants. However, the Commission clarified that dismissal does not waive any independent disclosure obligations. Parties with similar securities enforcement exposure should ensure all disclosure duties remain current regardless of case disposition.
Archived snapshot
Apr 6, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
250920124 COMMONWEALTH OFVIRGINIA
STATE COMMISSIONCORPORATION
State Corporation Commission AT RICHMOND, SEPTEMBER 9, Control CenterDocument
PM9/9/25-1:20rel. ex COMMONWEALTH OF VIRGINIA, COMMISSION CORPORATIONSTATE NO. SEC-2024-00017CASEv. MBUNU,FRANKLINE and DEDICATED FRANKSERVICES,LLC, Defendants ORDERFINAL State entered August 1, Corporation On2024,the(Commission")aCommission" this ofandOrder" in Commission'DivisionRetail case.The s Securities (Order")Settlement advised and Services,Franchising CommissionFranklineMbunu that DedicatedhastheFrank Defendants of fulfilledrequirements LLCthe"have the the(collectively,")Order. COMMISSION,havingconsidered of and finds this the NOWmatter,isTHEopinion ofand Defendants requirements that the the the Order that this case havefulfilledbeshould dismissed. IS ITTHAT:Accordingly,ORDERED This case is (1)dismissed. ofaffectEntry this Final any duty disclose to (2)Ordershallornotobligationthe orany order nature this matter existenceorofofenteredherein. COPY of mail Clerk Commission to:Ahereofshallbebythethebyelectronicsent Frankline Mbunuand Services, LLC,;Frankfmbunu@frankdedicatedservices.comDedicated ofand delivered 'Office tothe Commissions Counseland acopyshallbeDivisionofGeneral andRetailSecurities Franchising.
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