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OFFICE OF SECURITIES
121 STATE HOUSE STATION
AUGUSTA, ME 04333
CONSENT ORDER 04-025 - CON
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).
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.
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
Date: 12/22/04 /s/ Christine A. Bruenn
Christine A. Bruenn
Date: 12/22/04 /s/ Bonnie E. Russell
Bonnie E. Russell
Assistant Securities Administrator
Date: 12/22/04 /s/ Christian D. Van Dyck
Christian D. Van Dyck