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The Department of Banking News Bulletin 

Bulletin # 2242
Week Ending February 9, 2007

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. Written comments will be considered only if they are received within ten days from the date of this bulletin.



CONSUMER CREDIT DIVISION ACTIVITY
Check Cashing Service License Activity
Date Check Casher Location Activity
02/07/07
Franklin Godoy
470 Main Street
Middletown, CT  06457
filed
02/08/07 Daysie, LLC
3851 Main Street
Bridgeport, CT  06606
filed
Order to Cease and Desist and Order Imposing Civil Penalty
On February 6, 2007, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) In the Matter of: Mark L. Rhodes a/k/a Mark L. Sadie (“Respondent”).  Respondent was registered in Connecticut as a loan originator with VIP Mortgage Corporation (“VIP”), a Massachusetts corporation with its principal office at 153 Andover Street, Suite 207, Danvers, Massachusetts between approximately March 15, 2005 and May 11, 2006.  The Commissioner ordered Respondent to Cease and Desist from violating Sections 36a-53b and 36a-56 of the Connecticut General Statutes, committing any fraud, misappropriating funds or misrepresenting, concealing, suppressing, intentionally omitting or otherwise intentionally failing to disclose any of the material particulars of any mortgage loan transaction to anyone entitled to such information.  In addition, the Respondent was ordered to pay a civil penalty in the amount of $600,000.  A copy of the order can be obtained from the department's website, www.ct.gov/dob or by contacting the department's Legal Division.
Order to Cease and Desist and Order Imposing Civil Penalty
On February 6, 2007, the Commissioner issued an Order to Cease and Desist and Order Imposing Civil Penalty (“Order”) In the Matter of Greater Acceptance Mortgage Corp. (“GAM”).  GAM had a principal place of business in Santa Ana, California and held a first mortgage lender/broker license and a secondary mortgage lender/broker license in Connecticut.  GAM was ordered to cease and desist from violating Section 36a-498a of the General Statutes, as amended, and Sections 36a-486(b), 36a-490(a) and 36a-515(a) of the General Statutes.  In addition, GAM was ordered to pay a civil penalty in the amount of $3,300,000.  A copy of the notice can be obtained from the department's website, www.ct.gov/dob or by contacting the department's Legal Division.
SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Consent Order
On February 6, 2007, the Commissioner entered a Consent Order with respect to WMD Task Force, Inc. of 340 Main Street North, Southbury, Connecticut and its president John A. Bucciarelli.  The Consent Order alleged that, between May 2002 and 2005, WMD Task Force Inc. and John A. Bucciarelli violated Section 36b-16 of the Connecticut Uniform Securities Act by selling unregistered common stock to one or more investors.  In entering the Consent Order, the Commissioner acknowledged that the corporation and its president had supplied documents indicating that they did not have the financial wherewithal to pay the fine that otherwise would have been imposed by law.  The Consent Order directed WMD Task Force, Inc. and John A. Bucciarelli to cease and desist from regulatory violations.  In addition, the Consent Order required WMD Task Force, Inc. to retain legal counsel and provide advance notice to the agency prior to offering or selling securities in the future, and to only engage a registered broker-dealer or registered agent of issuer in connection with such offers and sales.   The Consent Order also directed John A. Bucciarelli to refrain for five years from 1) transacting business in or from Connecticut as an agent of issuer, broker-dealer agent, broker-dealer, investment adviser or investment adviser agent; and 2) acting as a finder for compensation, splitting commissions or receiving referral fees, directly or indirectly, in connection with any recommendation, sale or purchase of securities. 
       Dated:  Wednesday, February 14, 2007
       Howard F. Pitkin
       Banking Commissioner