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STATE OF
OFFICE OF SECURITIES
121 STATE HOUSE STATION
AUGUSTA, ME 04333
CONSENT ORDER 04-025 - CON
1. This Consent
Order applies to respondents Casey Ladymon (“Ladymon”) and Chad Willis
(“Willis”) only.
2. Ladymon is an individual who at all relevant times was
a Senior Advisor of Mid-Continent Oil and Gas, Inc. (“MOGI”), and solicited
individuals, including an investor from Lemoine, Maine (“the Maine investor”), to
invest in MOGI’s oil and gas exploration projects.
3. Willis is an
individual who at all relevant times was a Senior Advisor of MOGI and solicited
individuals, including the Maine investor, to invest in MOGI’s oil and gas
exploration projects.
4. Based upon these solicitations, the
5. Pursuant to 32 M.R.S.A. §10401, a person may not offer or sell any security in Maine unless the security is registered under
the Revised Maine Securities Act (“the Act”) or the securities or transaction
is exempt from registration under the Act.
7. MOGI units
were not registered for offer and sale in
8. It is the
position of the Maine Office of Securities that Ladymon and Willis are liable
as control persons of MOGI pursuant to 32 M.R.S.A § 10605(3).
8. On
9. On
10. Ladymon and
Willis desire an expeditious resolution of this matter.
11. Without trial
or adjudication of any issue of fact or law, and without admitting or denying
that their conduct violated the Revised Maine Securities Act, Ladymon and
Willis waive their right to a hearing and to judicial review of the entry of
this order.
ORDER
NOW, THEREFORE it is ORDERED
that Ladymon and Willis shall pay $20,000 to the
It is further ORDERED that Ladymon and Willis permanently CEASE AND DESIST from violating any provisions of the Revised Maine Securities Act, including the prohibition in § 10401 against offering or selling any security in Maine unless the security is registered under the Act or the securities or transactions are exempt from registration under the Act.
Ladymon and Willis hereby waive their right to a hearing and to judicial review and consent to the entry of the order set forth above.
Date: 11/19/04 _/s/
Date: 11/19/04 /s/
Casey Ladymon
Casey Ladymon
Ordered by:
Date: 12/22/04 /s/ Christine A. Bruenn
Christine A. Bruenn
Securities Administrator
Reviewed by:
Date: 12/22/04 /s/ Bonnie E. Russell
Bonnie E. Russell
Assistant Securities Administrator
Presented by:
Date: 12/22/04 /s/ Christian D. Van Dyck
Christian D. Van Dyck
Investigator/Examiner